Can we say that price fixing is illegal?
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aldous
Apprentice
Joined: 06 May 2008
Posts: 2
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 Posted: 08/16/08 - 08:43 Post subject: |
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| If companies are fixing prices by making an agreement, can we say that they are breaking some kind of law? Is price fixing illegal or not? Isn’t there some kind of antitrust law or something, so that buyers can fight against sellers’ monopoly??? I am really interested in these things, and I would really like to know more about it. |
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terrell
Apprentice
Joined: 12 Jun 2006
Posts: 1
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| Posted: 08/31/08 - 05:45 Post subject: |
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| Of course there is a law and it is a violations. It is actually a vilolation of antitrust law in the states, and the companies who are proved to be fixing prices can really be in a great trouble. I even think that the same is practiced in the rest of the world – Canada, EU, Japan, Australia…I know that there were several cases when some well-known companies were fined because of price fixing. For example, in France three vendors of perfume were fined for fixing prices in 4 years long period. Also Samsung was found guilty for conspiracy with some other companies for fixing the price of DRAM memory. |
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lemuel
Apprentice
Joined: 21 Oct 2007
Posts: 1
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| Posted: 09/15/08 - 02:48 Post subject: |
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| Well, it is against a law, but it is very hard to prove that some companies actually made an agreement to sell their products or services at the same price. They can easily claim that this was a pure price copying, so that they all are competitive with each other. I think this is what is happening in the country I am living in, and it is really terrible, because there is no mechanism, which can fight against oligopoly or even monopoly of certain suppliers. Sometimes laws are just not enough too, when the whole system is corrupted. |
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