Sure enough what you see very quickly emerging

不久你就会发现有大量的新兴公司
is new entrants entering the market to say,

进入了这个领域
hey these firms are restricting their quantities,

他们发现先入公司在限制产量
we can get in there and make money.

就也进入行业来赚钱了
So new and a competitive fringe of firms

大批新公司的进入引入了竞争机制
is going to enter and drive prices down.

压低了市场价格
Now, I'm talking about 1900 America

刚才我说的就是在二十世纪
where has that happened in the twentieth century more dramatically?

美国的哪些行业发生了巨大的变革
We know the early example in sort of Golden Age America,

我们知道美国全盛时期有这样的先例
but where else did we see a competitive fringe enter

还有什么行业原来也有产量协议
when there was a collusive agreement to keep quantities down?

但新公司进入后却导致协议瓦解呢
Airlines.

航空业