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> People get mad that when there's an oil shortage, that oil companies raise prices above the cost of production It's a bit different when they all (i.e. carte
by Pooge 2y ago
> People get mad that when there's an oil shortage, that oil companies raise prices above the cost of production
It's a bit different when they all (i.e. cartel) agree to keep the same price even after the shock has passed, isn't it?
- amazingamazing 2y agoif there's clear evidence to this, it's illegal
- bdangubic 2y agounder what statute would this be illegal?
- amazingamazing 2y agosherman act in usa
- bdangubic 2y agohow many companies - lifetime - have actually been charged, convicted and significantly impacted by the sherman act?
- BowBun 2y agoYou can get this information from google. If you're trying to make a point, just make it!
- VertanaNinjai 2y agoHere is a page DOJ publishes on that (at least for fines). https://www.justice.gov/atr/sherman-act-violations-yielding- https://www.justice.gov/atr/sherman-act-violations-yielding-... I also found this for criminal prosecutions under section 2 which is the section covering illegal monopolies. Pages 12 and 14 have some quick summary charts and tables. https://www.americanbar.org/content/dam/aba/publications/antitrust/journal/84/3/criminal-enforcement-section-2-sherman-act.pdf https://www.americanbar.org/content/dam/aba/publications/ant...
- dghlsakjg 2y agoGoogle, Facebook, Microsoft, Amazon are the ones in FANMAG off the top of my head. Also keep in mind that the existence of the law guides decisions around compliance. There is ample evidence that all of the big decisions at FANMAG are viewed through compliance with anti-trust as a concern. Basically, a lot of big companies haven't been prosecuted because they have armies of lawyers working on where exactly that law kicks in, and how much they can step over the line without putting themselves at serious risk. The existence of the law itself is a deterrence mechanism. It just seems like the justice department is hampered with a century old law in dealing with a modern world. I personally think that we should be more zealous in enforcing, or better yet, pass better laws. Move the line way back, essentially.
- bdangubic 2y agoGoogle, Meta, Microsoft, Amazon have really been hurting … :)
- margalabargala 2y agoThe same one that makes price fixing illegal. Go look up price fixing, and tell me why that statute wouldn't apply here, if you remain unconvinced.
- Pooge 2y agoAccording to the author, there is - through an app - and they even admit to it.