In a recent article on energy prices published by the Manhattan Institute for Policy Research – a self-described “leading free-market think tank” – it took two economics professors to make a textbook argument that businesses do not collude in setting energy prices. “When gasoline is expensive, people grumble that big oil companies like Chevron and ExxonMobil are colluding to keep prices high,” according to the paper. “They’re wrong. The best way to understand why businesses aren’t collectively fleecing consumers can be found in the economics tradition of price theory.”  These musings paralleled similar arguments made by the former Harvard University…

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