▁terms ▁such ▁as ▁( in ▁French ) ▁" s y nd ic at ", ▁" ac cap are ment ", ▁( in ▁Italian ) ▁" s ind ac ati ", ▁( in ▁English ) ▁" com bin ation " ▁or ▁" tr ust ". ▁In ▁France ▁Francis ▁Laur ▁and ▁Paul ▁de ▁R ous iers , ▁in ▁Italy ▁Francesco ▁V ito , ▁in ▁the ▁USA ▁Jer em iah ▁Jen ks ▁and ▁in ▁the ▁United ▁Kingdom ▁Henry ▁W . ▁Mac rost y ▁as ▁well ▁as ▁David ▁H . ▁Mac G reg or ▁were ▁author itative ▁writers ▁on ▁economic ▁combinations . ▁ ▁Modern ▁cart el ▁theory ▁ ▁The ▁modern ▁cart el ▁theory , ▁which ▁followed ▁the ▁classical ▁cart el ▁doctrine ▁is ▁essentially ▁of ▁American ▁origin ▁( Ge orge ▁J . ▁St ig ler ▁and ▁George ▁W . ▁Stock ing ▁in ▁the ▁ 1 9 4 0 s ) ▁It ▁was ▁based ▁on ▁the ▁liberal ▁view ▁upon ▁economy , ▁which ▁already ▁had ▁co ined ▁the ▁traditional ▁ant it rust ▁concept ▁of ▁the ▁ 1 8 9 0 s . ▁The ▁modern ▁doctrine ▁reject s ▁cart els ▁more ▁or ▁less ▁fund ament ally ▁and ▁is ▁therefore ▁not ▁much ▁interested ▁in ▁the ▁internal ▁organization ▁of ▁existing ▁cart els , ▁which ▁are ▁comb ated ▁( and ▁therefore ▁only ▁lo os ely ▁institution al ized ). ▁Sub sequently , ▁modern ▁cart el ▁theory ▁is ▁quite ▁orient ed ▁to ▁pure ▁economic ▁theory ▁and ▁to ▁economic ▁policy . ▁The ▁organiz ational - s cience ▁aspects ▁of ▁the ▁classical ▁cart el ▁theory ▁did ▁not