What is the history behind price fixing?

Price fixing has a long history, dating back to ancient trade practices where merchants would collude to set prices and control supply for mutual benefit. In the modern era, it became more formalized with the rise of industrial capitalism in the late 19th and early 20th centuries, prompting governments to intervene. Antitrust laws, such as the Sherman Act of 1890 in the United States, were established to combat these practices, recognizing their detrimental effects on competition and consumers. Despite legal prohibitions, price fixing continues to be a challenge in various industries around the world.