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We have this in the global coffee industry. All the growers(farmers/planters) are going bankrupt as bigger companies control the markets & keep prices low. Same with rubber industry.
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Great video, your work is awesome, in my opinion I think all industries need coordination, set prices and profit margins, otherwise the competition may lower the price to sell more, affecting the performance of the industry. that's problematic because you could be forced to lower your price, lose money and work more. The biggest example is China, they saturate the markets with cheap products and good quality, sooner or later they have a bigger slice of the cake. I dedicate myself to importing Chinese product to Mexico and I have seen how the competition is becoming violent in terms of price, many Mexican producers are affected while other resellers obtain short-term benefits, however their profits are decreasing while larger resellers are emerging. For this reason, I think the coordination of industries is very important. greetings from Mexico
@@OneMinuteEconomics It is true that throughout history innovation has been limited, we have the example of Tesla's inventions, planned obsolescence in the electronic industry, another example would be the eternal light bulb from Shelby Electric Company, after knowing that the invention of the light bulb which lasts for more than 100 years, people would no longer buy more light bulbs and that would cause the light bulb industry to decrease, directly affecting employment. Without the agreement and coordination of the industries, the profit margin falls and with it the generation of jobs, I believe that without it economic chaos is generated. The downside is that this leads to oligopolies and abuse in the supply chains, becoming "Cartels". what is your opinion on this topic and what solution would you propose?
