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{
    "id": 881922,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/881922/?format=api",
    "text_counter": 226,
    "type": "speech",
    "speaker_name": "Tharaka, DP",
    "speaker_title": "Hon. George Gitonga",
    "speaker": {
        "id": 13491,
        "legal_name": "George Gitonga Murugara",
        "slug": "george-gitonga-murugara"
    },
    "content": "I recall very well when I was studying economics in high school, we had three types of markets which we used to discuss in the economics class. There were the monopolies, and during that time, the best example of a monopoly that we used to give was the ruling party, KANU in the political arena. We would add other markets known as oligarchies, which we could not define well, but we had a perfect competitive market which we used to exemplify as the matatu industry. Those were years back when the matatu industry was not a perfect competitive market, but was near perfect competition. It is important to note that soon thereafter, the matatu industry fell into the hands of cartels; cartels that started forming groups some of which were illegal while others were criminal in nature in attempts to control the sector. The net effect was that the matatu industry became almost lawless, was not under any law or regulation and people could do whatever they could when running it."
}