Profiteering (business)

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

Business owners may be accused of profiteering when they raise prices during an emergency (especially a war).[2][page needed] 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][page needed] syndicates, for example on fuel subsidies (see British Airways price-fixing allegations), and other anti-competitive behaviour. Some are restricted by industry codes of conduct, e.g. aggressive marketing of products in the Third World such as baby milk (see Nestlé boycott).

Profiteering is legal in most of the world except in the UK and Germany.

This page was last edited on 23 November 2017, at 21:09 (UTC).
Reference: under CC BY-SA license.

Related Topics

Recently Viewed