this post was submitted on 05 Nov 2023
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Collectively agreeing to raising prices is anti-competitive collusion and illegal.
Collectively raising prices is anti-competitive coordination and legal.
Pandemic and supply shocks is a perfect excuse to do the latter.
Good luck to whoever is trying to solve this.
Doesn't help when there's really no competition in many areas. They are oligopolies.
This is the real problem. Companies had always and always will raise prices as much as they can, that should be a surprise to anybody, but how much they can raise them depends on the demand and the competition they have. We dont have healthy competition here in Canada for a lot of sectors. You want better prices? Break down monopolies, open the market to more foreign companies and enforce real consequences for collusion.