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Profiteering (business)

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Profiteering (business)

Profiteering is a pejorative term for the act of making a profit by methods considered unethical.[1]

Business owners may be accused of profiteering when they raise prices during an emergency (especially a war).[2] The term is also applied to businesses that play on political corruption to obtain government contracts.

Some types of profiteering are illegal, such as price fixing[3] syndicates and other anti-competitive behaviour, for example on fuel subsidies (see British Airways price-fixing allegations), or restricted by industry codes of conduct, such as aggressive marketing of products in the Third World such as baby milk (see Nestlé boycott).

Types of profiteering

Laws

See also

Example cases

References

  1. ^ Ray, S.K. Polity And Economy Of The Underworld. PHI Learning Pvt. Ltd.  
  2. ^ Hughes, Solomon (2007). War on Terror, Inc: corporate profiteering from the politics of fear. Verso.  
  3. ^ Neuwirth, Robert (2011). Stealth of Nations: The Global Rise of the Informal Economy. Random House Digital, Inc.  


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