The Japanese have a term, which they have used for industrial policy, kato kyoso (excessive competition), which they want to avoid during downturns. Hence they allow recession cartels to be formed to hold prices up instead of encouraging cut-throat competition and lower prices. This I believe is what Michael is saying.
Anthony ^^^^^^^^ CB: With the formation of cartels , sounds like some form of monopoly, uhhh, oligopoly, competition. We suspected auto former-Big Three of price fixing conspiracies. _______________________________________________ pen-l mailing list pen-l@lists.csuchico.edu https://lists.csuchico.edu/mailman/listinfo/pen-l
