That assumes Samsung, SK Hynix, and Micron won’t have competition in the next few years, but that’s already not true with the Chinese CXMT and YMTC. And the more they drive the prices up, the highest the reward for a new competitor to get established. They have a few good years (for them) charging these prices, but it won’t last.
Sure the prices will go down a bit, but never to pre-bubble levels. This is the new “market rate” now.
Invisible hand creates best prices when there is infinite supply, many suppliers, elastic demand. None of that exists and neoclassic economics is bullshit.
That assumes Samsung, SK Hynix, and Micron won’t have competition in the next few years, but that’s already not true with the Chinese CXMT and YMTC. And the more they drive the prices up, the highest the reward for a new competitor to get established. They have a few good years (for them) charging these prices, but it won’t last.
Sure the prices will go down a bit, but never to pre-bubble levels. This is the new “market rate” now.
Invisible hand creates best prices when there is infinite supply, many suppliers, elastic demand. None of that exists and neoclassic economics is bullshit.
Help us Xi Van Jingping - you are our only hope.
/s