When companies collude to fix price of food items or commodities, its seen as a big fraud and they are fined. Also, there are anti-trust laws to govern mergers and acquisitions that will reduce competition and lead to price raise.
However, OPEC countries collude all the time and artificially keep the price of oil high by cutting down production. Why isn’t the rest of the world up in arms against the 10+ countries that drive up prices?
In: 5
Well first off there are already enough wars and manipulations for oil.
Also these are sovereign nations deciding over policy. It’s very different than companies operating under laws of a nation. Companies operate under law of land. Countries make the law of land. It’s fair. Other countries also make trade deals between friendly states that are asymmetric. G7, NATO, BRIC, etc etc are countries doing what can’t be done by companies.
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