Quote:
Originally Posted by Loke
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Samoht, you can't take one sector of the economy (oil), which happens to be largely run by cartels (like opec) and then argue that it is representative of an economy as a whole. That is like me taking the natural monopoly provided to utility companies and using their actions to forecast the actions of a restaurant - one faces competition while the other does not. Oil is a very particular sector of the economy and not at all representative of economic actions under competition.
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You're ignorant if you believe that oil is the only part of this economy where this occurs. Ever heard of banks? Housing? Cell phones?
They're all out of control, and any cost-effective competition is immediately bought out to improve profits or sued so that they're tied up in litigation long enough to make them irrelevant.
There was a thread somewhere asking why the price of FBSS was so high on P99. It's because the people with all of the plat sit around in EC and buy them all creating a false shortage as they resale them at a fixed price.
Capitalism is always corrupt. Capitalism is never the answer.