Archive for month: June, 2022
High Gasoline Prices? Oligopoly as a Safe Harbor or Pearl Harbor (depending on your point of view)
In the late 1890s the problem was monopoly, so the Sherman Anti-Trust Act was enacted to counter manufacturing monopolies. Were Sherman alive today he’d say monopolies are still with us, except they don’t manufacture, they create services, but the real danger to society is from oligopoly, not monopoly, as the former sets the terms of their exploitation and obfuscation. You don’t need to go any further than today’s transparent oil industry price-gouging conundrum.
