Comment Re:Credit card fees (Score 1) 187
Sometimes an oligopoly is the healthiest outcome for a market - for buyers as well as sellers. Telecoms, energy companies, and credit processors have major investments in infrastructure that let them offer the service they do. It isn't always possible to have thousands of companies competing to serve every market.
But that's OK, because Game Theory demonstrates that Oligopolies cannot collude and keep prices significantly higher than their true market value for any length of time. Basically, whenever prices are held artificially high, any company in the Oligopoly that "cheats" and lowers its prices will steal customers from its competitors.
The real problem with credit cards is not their market structure, but the fact that costs are not visible to the customer.