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But what if we were to waste 40 years, waving through anticompetitive mergers until most sectors of the economy were dominated by five or fewer companies:

https://www.openmarketsinstitute.org/learn/monopoly-by-the-numbers

When a sector is controlled by a handful of firms, there's plenty of opportunities for "tacit collusion." And not all the collusion is tacit: in concentrated sectors, all the C-suite types know each other. They've worked with each other for their whole careers, jumping from one company to another.

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