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Old 04-06-2010, 12:03 AM
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zambizzi zambizzi is offline
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Join Date: Dec 2006
Location: Big Bad Boise
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Default Re: the music industry: victim of the profit motive?

It depends on what we're talking about when using the word "capitalism". It's important to specify whether or not you mean state-capitalism (i.e. political entrepreneurs exploiting state-power for profit) or the free market (i.e. market entrepreneurs "doing well by doing good.") They are indeed, opposing definitions...making the word "capitalism" tricky...or even meaningless.

On one hand, which is the current state of the music industry, you've got a system where protectionism guarantees a lack of innovation.

On the other hand, you have a system where consumers are able to truly speak and vote with their dollars, and competition guarantees innovation and creativity.

The "profit motive" is not a bad thing...indeed it is the primary factor for mutually beneficial economic growth and innovation, in the market. All anti-market rhetoric surrounding the "evil profit motive" is based on ignorance and lies.

Profit Motive = competition = innovation, lower prices and more choice. It is economic freedom, sans protectionism.

Add protectionist laws to the mix and you can begin to accurately describe the modern music industry, which is more concerned with maintaining the status quo through fear and intimidation (via protectionist laws.)

There's $0.02 from the Laissez Faire Peanut Gallery. ;)
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