Railroad pools in the 19th C. Before the pools, they were more like the drug "cartels", trying to sabotage others to diminish competition; i.e., a pre-cartel.
Michael Perelman Economics Department California State University michael dot perelman at gmail.com Chico, CA 95929 530-898-5321 fax 530-898-5901 www.michaelperelman.wordpress.com -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Jim Devine Sent: Wednesday, June 19, 2013 12:10 PM To: Progressive Economics Subject: Re: [Pen-l] Cartels [was JPMorgan ...] me: >> (By the way, have there been many (or any) cartels that weren't >> approved by their governments?) martin schiller wrote: > Drugs? Drug cartels -- in Colombia or elsewhere -- don't fit the economist's definition of "cartel." Economic cartels restrict supply, while drug cartels hope to expand it. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
