Hist of Capital 20: German Cartels

Economists teach us that competitive markets are the best of innovation and growth of economies. But the economic history of Germany reveals that they achieved their industrialisation under a system of tariffs and cartels. What explains this paradox?
Steven Webb explains that German policies were designed to curb market instability, lowering risk of investment, and promiting vertical integration of the supply chain.
Steven Webb, "Tariffs, Cartels, Technology, and Growth in the German Steel Industry, 1879 to 1914," Journal of Economic History 40 (June 1980), pp. 309-29.
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Thanks for this unique and outstanding lecture

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[@sadiqullah1669]

Sir Adma smith even criticized the Mercantilism economic policy of the state and he argued that a free market economy is good for both states and imposing tariffs and sanctions on the goods will be bad.

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بہت معلوماتی لیکچر۔اقتصادات کے خشک اور مشکل نصاب کو اسان انداز سے سمجھایا۔کارپوریٹ فارمنگ اور ادارے کے انٹرونشن سے پاکستان کا فایدہ ہوگا؟

[@tanzeelahmed2055]

Great lecture

[@AkNeedMoreWisdom.]

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[@sabiraalii9866]

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[@cosmos0909]

Before this lecture, I only knew about Drug cartel

[@chenkraps9989]

You know very less then.
Check opec

[@musakhanhazara1429]

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[@anarkali_217]

interesting fact about tariff coming from taruf😲

[@AbdulRahman-en3ow]

why our elite can't even export even with government financial support?

[@muhammad.aleemalik]

Sir Thanks for the great knowledge and your continuous effort in providing awareness.
Germany ka paradox to smjh aa gia, ab hum pakistan main boom kis tarha la skty hain?
Jesay k ajkal ab IT, AI and Metaverse ka daur hai. To yeh sb bhi cartelized hoon gi ya humain, steel mills help out kr skti hain grow krnay main...
Pakistan main kis tarha industrial revolution laia ja skta hai?

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After going a lot after Austrian school, I've understood they don't stand for poor nor about global good, deep down.
And through time you've proved your good intentions and the efforts for education of woke and broke youth of pakistan

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Information is incomplete unless commodity money based on chain of price control mechanism!

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[@pswproduction8900]

Great ❤

[@vigita9723]

Love from Lucknow

[@khushveersingh3297]

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[@farhanaahmad408]

Could we say that tariff and tax is the name of same thing.

[@cosmos0909]

you can say tariff is tax on imports

[@farhanaahmad408]

@@cosmos0909 ok

[@manikpatil5235]

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[@sirajkhatir8455]

muje laga Germany k drugs cartel ki bat ho gi 😂

[@ghazanhussain2070]

Amazing lecture 😍😍😍😍

[@ghazanhussain2070]

Didn't expect that even cartels could benefit nation economy 😅😅😅😅