Walter Williams writes here in response to accusations toward the oil industry for supposedly fixing prices. He points out that a number of our agricultural products including sugar and milk have "fixed prices."
Groups have more to lose if there are not fixed prices than we, as consumers, have to gain by fighting against them. Williams uses easy to follow examples to demonstrate how the government is in collusion with powerful farm lobbies to charge more for products than what they would fetch on the market.
We here at Cashtalk are no strangers to free trade, but this isn't tariffs to keep out more efficient producers. It is the government supporting "price-gouging" and even fining those producers that lower their prices.
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