Cartels and Cheating
James discusses the challenges cartels face in maintaining production quotas, particularly within OPEC. He highlights how member countries often inflate their oil reserves to cheat the system, leading to increased output and lower prices for consumers. While this behavior undermines the cartel's stability, it ultimately benefits consumers, illustrating the complex dynamics between oligopolies and market competition.In this clip
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The Science of Everything Podcast
Episode 49: Market Structure
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