Monday, November 23, 2009
Posted by D. Daniel Sokol
Greg Werden (DOJ) suggests Sanctioning Cartel Activity: Let the Punishment Fit the Crime.
ABSTRACT: This essay explains how economic analysis and enforcement experience support the conclusion that cartel activity should be viewed as a serious crime and punished with serious sanctions on both business enterprises and individuals. My subtitle provides part of the argument: "Let the punishment fit the crime." As many before me, I borrow William Schwenck Gilbert's memorable line from The Mikado, a contemporary of the earliest criminal statutes relating to cartel activity. For historic background and current context, I initially review the evolution of sanctions for cartel activity in the United States.