Re: 'They Are Trying to Maximize the Amount of Money They Can Get Any Given Consumer to Pay' (fwd)

[robert <http://dummy.us.eu.org/robert>]

So, how did Adam Smith deal with the issue of price fixing and collusion?
Intuitively, it seems like innovation would come in and break the cycle,
but that could take a while.  The real question, then, is whether it makes
sense for the government to step in to reduce the cycle time.