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by Arainach
191 days ago
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>That's true--in fact early "big name" enforcements hurt consumers, by breaking up Standard Oil and Alcoa Aluminum, whose "antitrust violation" was selling products more cheaply and in greater quantities than their competitors. As a result of the breakups, prices went up and supplies went down This is nonsense. Breaking up the monopoly and the price fixing led to lower prices through the system. Oil barrel prices were far from the only thing controlled by the standard oil monopoly. |
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Not in the cases I gave.
> Oil barrel prices
Not sure what you mean by this. If you mean crude oil, Standard Oil was not a seller of crude oil; it was a buyer. It bought crude oil and refined it into various products that it sold. The prices of those refined products went up after the breakup.