Linked by Thom Holwerda on Mon 10th Dec 2012 16:30 UTC
In the News "So sprawling is Samsung's modern-day empire that some South Koreans say it has become possible to live a Samsung-only life: You can use a Samsung credit card to buy a Samsung TV for the living room of your Samsung-made apartment on which you'll watch the Samsung-owned pro baseball team. Samsung is South Korea's greatest economic success, and, more recently, the subject of major controversy. Economists, owners of small- and medium-size businesses, and some politicians say Samsung no longer merely powers the country but overpowers it, wielding influence that nearly matches that of the government." Campaign contributions, moles in political offices and chambers, this Samsung stuff - this is what happens when companies are left unchecked. It's cute if you think this only happens in Korea. Much of it all is legal, but that doesn't make it right.
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by spiderman on Tue 11th Dec 2012 19:27 UTC
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Samsung is way too important in South Korean economy to let it fail. On the other hand, Samsung will abuse its position and demmand anything from the state that makes a positive change on its bottom line, regardless of the consequences.
There is one solution to fix this problem without any negative effect: nationalize it. This solution has only benefits. It will generate very confortable revenue that can be used to lower the taxes on everyone, it will make Samsung more responsible with regards to the long term effects of its decision on the population and it will give a free hand to the government to rescue it when it is in trouble.
Here is how this should happen:
1. Confiscate Samsung and declare it property of the state, without any compensation to the current owners.
2. Send the owners to jail, as they deserve.
3. Use Samsung's profits to improve the roads, schools, hostitals, etc... and a tiny bit of it to sustain the old owners in jail (like €500/month or something).
In my opinion, this is the best way to fix the current slippy slope that Samsung is creating.
I believe Nokia should also be nationalized BTW, but differently and for different reasons.
Of course, some people will cry communist but they don't have any argument to support their witch hunting, so they should just be ignored until they can put up a coherent argument for discussion.

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