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'''Price fixing''' is an anti-competitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity at a fixed price, usually to maintain monopoly profits and to push back against Marxism's economic law that [[Tendency of the rate of profit to fall|competition results in falling rates of profit]]. | '''Price fixing''' is an anti-competitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity at a fixed price, usually to maintain monopoly profits and to push back against Marxism's economic law that [[Tendency of the rate of profit to fall|competition results in falling rates of profit]]. | ||
Under imperialism (the monopoly stage of capitalism) price fixing is commonly carried out by international cartels of producers, this can be observed especially in the [[Petroleum politics|oil markets]]. | Under [[imperialism]] (the monopoly stage of [[capitalism]]) price fixing is commonly carried out by international cartels of producers, this can be observed especially in the [[Petroleum politics|oil markets]]. | ||
[[Category:Capitalism]] | [[Category:Capitalism]] | ||
Revision as of 18:52, 9 November 2021
Price fixing is an anti-competitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity at a fixed price, usually to maintain monopoly profits and to push back against Marxism's economic law that competition results in falling rates of profit.
Under imperialism (the monopoly stage of capitalism) price fixing is commonly carried out by international cartels of producers, this can be observed especially in the oil markets.