Adam Smith pointed out that the easiest way for businesses to earn profits is not by slashing costs and innovating but by agreeing among themselves not to compete

Adam Smith pointed out that the easiest way for businesses to earn profits is not by slashing costs and innovating but by agreeing among themselves not to compete
U.S. capitalism took a disastrous turn just as the nation was becoming dominant in the 20th Century. We fell victim to economies of scale, and big became best.