Monday, October 19, 2015

Capitalism And Price Fixing

First off, I don't hate or disdain Capitalism, but it doesn't always work the way it is suppose to. I just saw this article on Bloomberg News. Iran wants OPEC nations to lower oil output to raise oil prices. That's price fixing. Capitalism can't work properly with price fixing, It eliminates competition. The article is about Iran, but I have seen other countries and companies saying the same thing:

http://www.bloomberg.com/news/articles/2015-10-19/iran-urges-opec-to-cut-oil-output-to-lift-prices-to-70-80

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