5 Year Member
- Apr 5, 2011
- Reaction score
Cartels are not great at all. Competition is better for the consumer as it breeds innovation and better prices. Cartels are very anti competition, but in on order to maintain the status quo of their dominance, they both legally and illegally remove competition (basically whatever it takes to win). They will bribe politicians, if not put their own in power. They will bribe the media, if not own the media.You need to do a bit more study.
Some monopolies benefit society. I am thankful for monopolies like facebook and google. Facebook is free to use. I have been using Google and all their free stuff for over two decades. The only money I have paid google is $4.99 to watch a movie on youtube a few years ago. Queensland had cheap electricity before they introduced competition to a natural monopoly electricity supplier. Natural monopoly vs other monopoly.
Cartels. Some cartels benefit society. The OECD recognises this (see link below). Example: A small town has three doctors (G.P.s). They work together to make sure one of them is open on Sunday. On a roster system. Hard core cartels vs cartels that benefit society.
One of the worst cartels I can think of is OPEC where the Saudi Arabians can enslave the world to much of its will beyond just profit from their oil. The smaller OPEC nations have little power in increasing or decreasing the price of oil as the Saudi's only put their own interest first. Then there have been wars that seem more than mysteriously connected to those within OPEC who do not follow the party line.
The Russian oligarchy is one of the worst when it comes to cartels/ monopolies. It is very reminiscent of what was happening with the USA a century ago with the likes of the Rockerfellers, JP Morgan and a handful of others. In America today, Bill Gates seems to be the modern day kind who legally and illegally dominated the computer industry at all cost, and then desired to have the same power over the health industry.