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and a well-run government can avoid it.

Which is about as likely as the proverbial "sufficiently smart compiler".

Oligopolies and cartels exist because cooperating against the public is a better option for them than competing with one another and (as any game theorist will tell you) the first to be disloyal gains only a small edge at the cost of significantly reduced results for everybody.

But in reality, cartel members cheat all the time. Take OPEC, for example, where members are always producing more than their official limits.




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