Pen-l folks:
Some have argued that certain great depression and
WWII programs that brought US firms together to
help plan industry output contributed to these
firms being able to achieve collusion after the
end of these programs.
Not only did firms in these government organized
industry groups learn more about the cost and
pricing structures of their rivals, but industry
leaders developed social relationships that
contributed to later implicit and explicit
collusion.
I can't remember, however, who argued this. Does
anyone remember?
Thanks.
Eric
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