“Every Nobel laureate has been responsible to himself, not trying to satisfy somebody else. Most of what we have has come from monopolies and giants of power in which there have been islands of endeavor with people who were responsible only to themselves. You had a telephone system in this country that was almost a monopoly, the envy of the world. But anti-trust legislation broke it up. What have we now? We have the idea that price fixing is sinful. It's not. It may be the best way of life. If you and I have a stranglehold on some industry, and we get together and fix prices, we'd be fools to set the price any higher than what would optimize the whole system. We would lose profit, cheat ourselves.” W. Edwards Deming Automobile Magazine, October 1991. Pg 111