CARTELS, A PHASE OF BUSINESS HAUTE POLITIQUE.

The author has used the term "haute politique" to denote that substantial element of naked power in the business activities of businessmen directed at actual or potential competitors and the outside public by means of which concerted undertakings designed to "regulate disorderly markets," "adjust production to consumption," or "stabilize competitive conditions" are negotiated, modified and enforced. According to the author the economics of international commodity haute politique is basically the economics of Mercantilism. The area is, of course, no longer the small geographic state but rather the world market for a given commodity or set of commodities. The power and strength to be magnified is no longer that of a national sovereign but that of an international industrial empire. National states, useful for tariffs and other favors they provide, have jurisdiction over only a portion of the area which international business haute politique organizes and governs.