Pronunciation: [kɑːtˈɛla͡ɪz] (IPA) 
The word "cartelize" is spelled with a "z", even though it may seem like it should be spelled with an "s" due to its similarity to the word "cartel". This is because the word originated from the French word "cartel", which was spelled with a "z". The IPA phonetic transcription for "cartelize" is /ˈkɑː.təl.aɪz/, with emphasis on the second syllable. This word refers to the act of forming a cartel or monopolistic group in business.
Cartelize (verb): To cartelize is to form or operate as a cartel. It refers to the act of creating a coalition or an agreement between businesses or organizations within the same industry in order to manipulate and control the market conditions in their favor. This collusive act is typically aimed at increasing profits and reducing competition, often to the detriment of consumers and smaller businesses.
When companies cartelze, they enter into various agreements and understandings, such as fixing prices, limiting or allocating production, sharing confidential information, or coordinating marketing efforts. These concerted actions undermine the principles of fair competition, as they create an artificial monopoly or oligopoly that leads to market distortions.
The purpose of cartelization is often to achieve market dominance and increase market power, enabling the participants to collectively dictate prices and control supply levels. This can result in higher prices, reduced innovation, and diminished choices for consumers.
Cartelization is generally regarded as an anti-competitive practice and is often illegal in many jurisdictions. Governments and regulatory bodies actively work to detect and penalize those involved in such activities in order to safeguard fair competition and protect consumers' interests.
Overall, cartelize refers specifically to the action of businesses or organizations joining forces and operating together in a collusive manner to manipulate market conditions and control prices in their industry, to the detriment of a competitive free market system.
The word "cartelize" is derived from the noun "cartel" which comes from the Italian word "cartello" meaning a written challenge or a note of defiance. The term originally referred to a formal written agreement or contract, specifically used by Italian adventurers and mercenaries during the 15th and 16th centuries. Over time, the term "cartel" became associated with monopolistic business practices, particularly during the late 19th and early 20th centuries. The verb form "cartelize" was formed from the noun "cartel" by adding the suffix "-ize" to indicate the process or action of forming a cartel.
