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To: blam
Here's what is hurting OPEC: cartels usually fall apart over time. Anyone who's taken a course in college economics knows that while cartels initially enforce a price floor, the temptation to "cheat" by individual cartel members selling a good at a lower price is VERY high, and that ends up putting an end to them over time.
19 posted on 11/24/2014 11:42:53 AM PST by RayChuang88 (FairTax: America's economic cure)
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To: RayChuang88
the temptation to "cheat" by individual cartel members selling a good at a lower price is VERY high

Andrew Carnegie once told a biographer the opportunity to cheat was the whole point of joining a cartel in the first place.

35 posted on 11/24/2014 1:08:12 PM PST by SeeSharp
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