Declan McCullagh has written a fantastic article tying Adam Smith's The Wealth of Nations to today's technology companies' cries for economic protection and the US government's willingness to provide it. "Micron claims that Hynix is competing unfairly by--I am not making this up--selling its dynamic random access memory (DRAM) chips at a lower price than U.S. companies do. Micron CEO Steve Appletoninsists that this is unlawful and that American consumers should be forced to pay higher prices when shopping for computer gear.
"This summer, it (U.S. Gov't) sided with Micron and slapped a 44.3 percent tariff on Hynix's DRAM chips. At about the same time, the European Union levied tariffs of 34.8 percent."
"The more important point is not that Micron is seeking a political advantage, which it is, but that it's not alone."
"President Bush might want to spend less time listening to corporations pleading for special favors--and more time reading Adam Smith."
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