Two Bakers Walk Into A Cartel

Send us Fan Mail We test a simple bakery price-fixing pact and watch it unravel, then use that failure to explain how transaction costs shape institutions, from unenforceable contracts to the rise of the corporate trust. We connect the common law doctrine of restraint of trade to the Sherman Act, modern merger fights, and a real-world egg pricing controversy where evidence is hard to untangle from supply shocks. • a two-baker cartel that collapses as soon as cheating pays • why courts histori...