Canada Bread has agreed to pay at least $50 million for its role in fixing the price of bread for years, according to documents filed in an Ontario court.

  • jerkface@lemmy.ca
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    1 year ago

    I often see people arguing online that private profit leads to efficiency but we see here that it is doing the opposite. Lawblaws isn’t obliged to maximize good to society, or even consider most harms to non-investors. They could be using their deep integration to minimize cost for consumers while still covering all their costs and making enough fair (ideally regulated) profit on that to attract the necessary equity. Instead they do almost the exact opposite, by structuring their business to maximize cost to consumers to the most they can tolerate. I really hope we can do something about it, but Canada was literally created by corporations to exploit humans and natural resources, so I won’t hold my breath.