Monopolies, oligopolies and cartels. These are the end-game of any capitalist system where the overriding priority is profit. I am not even going to morally fault any of the individual decisions-makers here. They are playing the game within the system that exists, not as one would like it to be. Step zero in changing this situation is helping people understand that capitalism is designed to maximize profits, not cost or supply. That this happens at all is a temporary side-effect of competition, which itself is an inefficiency when optimizing for profits. Proponents of capitalism will focus on competition as if it were some kind of natural condition that keeps everyone honest. Instead, competition leads to collusion, consolidation, and regulation (regulatory capture) to create as high a barrier as possible to enter the market.
An investigation into egg prices
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Re: An investigation into egg prices
#182Earlier quoted context omitted.
> and implement laws to prevent anyone from ever buying out anyone else. Consolidation would be impossible, only organic growth would still be legal. Game theoretically, these groups would still collude to maximise profits.
Yes, but we understand that game and have a strong legal base to tackle it as well (see: Cartels & the Sherman Act/Clayton Acts). Further - It's REALLY hard to keep a cartel stable (much less secret) if there are more than single-digit members. Hell - OPEC is a great example. It's only 12 country members, and they can barely hold the thing together. Angola just left last year over disagreements... So breaking up the…
Given the history of the world, and the inability for any government to enforce such a "fair" market, ever. I feel this is extremely naive.