It's illegal to sign an agreement, to sign a contract saying you're going to restrict quantities.

签订这样限制产量的协议,属于违法行为

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Sure enough what you see very quickly emerging is new entrants entering the market to say, hey these firms are restricting their quantities, we can get in there and make money.

不久你就会发现有大量的新兴公司,进入了这个领域,他们发现先入公司在限制产量,就也进入行业来赚钱了

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So, for example, in around 1900 in America or a little bit earlier, let's say 1880 in America, it really isn't clear that it was illegal to write agreements to say we'll restrict quantities.

比如1900年甚至更早的美国,假如是1880年的美国吧,在当时这种限制产量的合同是否违法,在司法上没有明确的界定

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Companies did produce agreements to restrict, for example, the production of paper and the production of rubber, and the production of steel, and the production of iron, and the production of railway lines, actually, even quite complicated things.

公司之间的签署了限制产量的协议,比如说有造纸业,橡胶制造业,炼钢业,冶铁业,铁路运输行业,当然还有更复杂的行业

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Okay, so in oil we all know that in the late 60s, early 70s, OPEC was formed precisely to restrict quantity among the major oil producing countries, and very quickly we see companies take other countries take advantage of this to start producing oil profitably.

众所周知在上世纪六七十年代,为了限制石油的产量,主要产油国成立了OPEC组织,但是很快就有一些国家,利用这点来产油获利

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