this post was submitted on 12 Aug 2024
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cross-posted from: https://lemmy.ml/post/19046336

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[–] [email protected] 99 points 3 months ago (35 children)

Thing is…there is no real free market with proper competition, anyway. If there was such a thing, my groceries wouldn’t cost double now from what they were a mere five years ago (or quadruple, if looking at soda like Coke and Pepsi products). There is rampant collusion and price-fixing going on and not a damn government official seems to be doing anything about it. And yeah, the “but but the pandemic” excuse runs pretty thin as the years of this gouging continues.

[–] [email protected] 63 points 3 months ago (19 children)

The truth is, a real market is never actually truly competitive. In an unregulated market, competing firms always collude with each other to set prices and wages for the industry. "Free market" ideology is based on nonsense, they've proven this over and over.

[–] [email protected] 19 points 3 months ago (1 children)

In a free market, aren't you free to collude with your competitors in order to fix prices?

[–] [email protected] 8 points 3 months ago* (last edited 3 months ago)

In a Hayekian free market, yes. Most (all?) actual free markets prohibit cartels, though.

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