Wow. I've read what the term "price-fixing" means at wikipedia but i still don't get it. Could you or anyone else please explain and give an example of what price-fixing means?
To my mind, price fixing means an elaborate way for rivaling companies to artificially hold prices for their similar products at one certain price level. i.e. companies that would be competing with each other for customers sign a secret contract that they would not use price lowering in order to lure in more customers. So, now the choice of vendor for a customer is based on everything but the price, since it is always at the same level. This is a crime, because that slows down competition and the modern world is all about competition. Competition is good for the end-user as he/she can get the most out of the marked that way (hence the famous term price/performance). Plus, these companies would ensure a steady income of money from heir customers and ensure that no customers are lost to other vendors due to price differences (which is the main cause of customer migration). There is no competition in countries like the DPR of Korea or Cuba (socialist countries) and look where they are now (other examples - the USSR; China and Vietnam - both of which have effectively turned to the western markets anyway)...
