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The basic laws of economics are premised based on an optimal market, with rational actors. None of these matter in a natural oligopoly. When there are few enoug
by cannonedhamster 8y ago
The basic laws of economics are premised based on an optimal market, with rational actors. None of these matter in a natural oligopoly. When there are few enough actors you can functionally cooperate without ever communicating directly which acts as a defacto cartel.