The uncovering of a great number of cartels in the industrialised world has left an unfortunate, yet significant, mark on global economic developments in recent years. Globalization has forced firms into more direct competition; the result has been global price-fixing. This situation has greatly challenged antitrust authorities.

Taking a broad yet detailed approach, this work sets a practical explanation of the history of cartels and antitrust law in a sound theoretical framework, as well as providing suggestions as to how potential reforms of antitrust laws could...