I think of the WW1 Christmas Truce and wonder how many competitors are able to stop competing for mutual benefit. It's good when competition in war ceases, but it's not good when several "competing" companies decide to cease competition for mutual benefit. If people can do it in the highly charged situation of trench warfare, why can't companies do it to? Could a market with 10 competing companies cease competing for mutual benefit? What about 20?
Competition is not enough. It must be easy for new competitors to enter the market to ensure a nefarious trust doesn't form between companies.
Competition is not enough. It must be easy for new competitors to enter the market to ensure a nefarious trust doesn't form between companies.