• Source: Profiteering

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




Overview


Business owners may be accused of profiteering when they raise prices during an emergency (especially a war). 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 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).




Types of profiteering


Price fixing
Price gouging
War profiteering




Laws


Profiteering is illegal in several countries, including but not limited to:

UK: Chapter 1 of the Competition Act 1998
Germany: § 291 StGB (Criminal Code) – up to 10 years' jail maximum penalty
Austria: § 154 StGB – up to 5 years' jail maximum penalty




See also



Enshittification
Hoarding (economics)
Business ethics
Price gouging
Product sabotage
Rent seeking
Supracompetitive pricing
Ticket scalping
Usury




= Example cases

=
British Airways price-fixing allegations




References

Kata Kunci Pencarian:

• Lord of War
• Alger Hiss
• Penipuan harga
• Integrasi vertikal
• Pengadilan Istanbul 1919–1920
• Kompleks militer–industri
• Profiteering
• War profiteering
• The Profiteer
• War Profiteering Is Killing Us All
• Profiteer (Daoye)
• Cheka
• The Profiteers
• Groundwork Collaborative
• Boeing
• Veterans of Future Wars