4 ms·
> I'm not certain I'd like 2 or 3 giant corporations deciding how much corn will be grown next season to maximize profits, There are several sectors of the agr
by mywittyname 3y ago
> I'm not certain I'd like 2 or 3 giant corporations deciding how much corn will be grown next season to maximize profits,
There are several sectors of the agricultural industry that are monopolies/oligopolies. And those tend towards making more money via producing more rather than artificial scarcity. If orange prices rise too much, then some other commodity will replace it. So instead of artificially restricting orange supplies, the industry spends tons of money researching and bringing to market more products that use oranges. Diversity and vertical integration are the name of the game here.
Even the pervasive corn industry isn't immune to being replaced by competition if prices go up.