Re: the music industry: victim of the profit motive?
For most the history of the music business, long term investment was still understood.
Labels were willing to invest heavily into bands for long term profit.
For example: The first three Rush albums didn't turn a profit. The 4th album made them stars. Their eight studio album made them legends.
Journey's first three albums bombed, their 4th gave them hope, their 5th album turned a profit. Their 8th studio album made them legends.
Fleetwood Mac first 8 albums were minor sellers until they struck a major hit that made them one of the best selling bands of the 70s'.
It wasn't until the late 80's, and mostly in the 90's, when labels stopped investing in long term bands. Then it just became about have a hit right away, or get off the label.
Capitalism didn't change the outlook from long term to short term, changes in corporate philosophy did. One could argue if the labels were better capitalists, they'd do better with long term investments.
As for the piracy angle, that is an issue world wide, regardless of economic structure.