What is a modern day cartel?

Answer 1

A modern-day cartel typically refers to a group of independent businesses or organizations that collaborate to manipulate market conditions, control prices, or limit competition, often in illegal or unethical ways. This concept is most commonly associated with drug trafficking organizations, particularly in regions like Latin America, where cartels engage in violent tactics to maintain their power and influence. Additionally, in various industries, companies may form tacit or explicit agreements to coordinate prices or production levels, undermining free market principles. Overall, modern cartels can have significant economic and social impacts, often resulting in violence and corruption.