Samsung Electronics Co. Ltd. and its U.S. subsidiary Samsung Semiconductor Inc. have agreed to plead guilty and pay a $300 million fine for participating in an “international conspiracy” to fix prices on DRAM (dynamic RAM), the U.S. Department of Justice (DOJ) announced Thursday.
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The DOJ filed a one-count felony charge against Samsung Thursday in U.S. District Court in San Francisco. Between April 1999 and June 2002, the South Korean company and its U.S. subsidiary conspired with other DRAM manufacturers to fix prices of DRAM sold to PC and server manufacturers, the DOJ said.
Oddly enough, Samsung did not physically force or threaten to force any of the ‘colluding’ manufactures to sell at certain prices. Nor did Samsung force any of the customers to purchase their products at certain prices.
And as much as they would love to help the “market process,” the FTC forgets the role that customers play: customers will vote with their pocket books as to whether or not they will pay a certain price — they ultimately call the shots. A manufacture can charge whatever they want however if a customer is unwilling to pay that particular price, the manufacture must concede to market pressures and change prices accordingly.
Speaking of price-fixing, how come only State-protected firms are the only ones allowed to do so? Did “the market” create the $.37 stamp? (note: this also ties in with ‘monopolies‘ and how they can only exist with State enforcement)
More on that strange phenomenon called prices. Another on price-fixing.
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The American DOJ makes the case for high-tech companies moving their operations outside of the United States . . . into China, India, Hong Kong, Singapore or other locations. Modern tele-trading allows American investors to indirectly access foreign stock exchanges, including those in Canada. The DOJ’s message to high-tech: Get out of the USA . . . move your operations and stock trading into other nations!
Harry Valentine
Now, Now. What facts have you employed in your argument? None! Von Mises would cry in shame with the reasoning you have employed here. No facts, just self-rightousness.
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