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this post was submitted on 13 May 2024
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politics
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So the questions are collusion and abuse of a monopoly. Is that happening? Price gouging is not illegal, but competition usually limits it, if there is effective competition.
We’ve had similar ridiculous inflation as everyone else, but this is not an area dominated by one chain. We have several major chains and Walmart is just one of them: are they all colluding? Is there some vast conspiracy? Within the confines of the new much higher prices they seem to be competing as much as before
Imagine defending capitalists fucking over the very customers they serve.
They've always been conspiring. They just rarely get caught. It's even easier now because they can all use the same "market pricing software".
https://en.wikipedia.org/wiki/Price_fixing_cases
When there are enough corporations to fit a boardroom table. Competition doesn't exist.
It's well within reason to think that many of Executives all attend the same events, have overlapping social circles, and moved around positions between the corporations.
All it takes is one company to get away with higher prices for the other companies follow suit.