An individual or organization that acquires a controlling influence over the supply of a particular good or service (often referred to as ‘cornering the market’). It can then force the price up until further supplies or substitutes can be found. This objective has often been attempted, but rarely achieved, in international commodity markets. Because it is undesirable and has antisocial effects, a corner can now rarely be attempted as government restrictions on monopolies and antitrust laws prevent it. An example of an attempt to corner a market was Nelson Bunker Hunt's attack on the silver market in the USA in the early 1980s.
Subjects: Financial Institutions and Services.