this post was submitted on 12 Jan 2024
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They don't sound like competitors, but partners; collusion, no competition.
What happened to "competition lowers prices"?
What happens is in nearly all actually existing markets with a very established and static general business model, eventually competitors fail or are bought out and competition dynamics give way to oligopolistic or monopolist markets absent government intervention.
This is like a year 2, conclusion you learn studying for a Bachelors degree in Econ, yet the vast majority of the public and talking heads who either are or presented as economists do not seem to agree.
I've managed to learn that even without taking classes. Yet here we are with people supposedly so much brighter than my high-school grad ass who can't or won't figure it out. That's fine on the surface of it, nobody knows everything. But the people in government who have the responsibility to manage the country to the benefit of the population have no excuse for why they don't have the basics figured out.