Editing Monopoly (section)

==== Coal ====
Robin Gollan argues in ''The Coalminers of New South Wales'' that anti-competitive practices developed in the coal industry of Australia's [[Newcastle, Australia|Newcastle]] as a result of the [[business cycle]]. The monopoly was generated by formal meetings of the local management of coal companies agreeing to fix a minimum price for sale at dock. This collusion was known as "The Vend". The Vend ended and was reformed repeatedly during the late 19th century, ending by recession in the business cycle. "The Vend" was able to maintain its monopoly due to trade union assistance, and material advantages (primarily coal geography). During the early 20th century, as a result of comparable monopolistic practices in the Australian coastal shipping business, the Vend developed as an informal and illegal collusion between the steamship owners and the coal industry, eventually resulting in the High Court case ''[[Adelaide Steamship Company|Adelaide Steamship Co.]] Ltd v. R. & AG''.<ref>{{cite book | first = Robin | last = Gollan | title = The Coalminers of New South Wales: a history of the union, 1860–1960 | location = Melbourne | publisher = Melbourne University Press | year = 1963 | pages = 45–134}}</ref>