Profits are higher when cooperating than competing. Cooperation is easier than ever now, and happens transnationally and locally. Sellers generally have more

Profits are higher when cooperating than competing. Cooperation is easier than ever now, and happens transnationally and locally. Sellers generally have more sunk investments than buyers, and hence more market power. Regulators gain more by cooperating as well, and industries embrace regulation that reduces competition especially new entrants. It’s easy to explain but hard to address.