this post was submitted on 06 Sep 2023
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A small wrinkle, industries seem to have little issue with acting collectively to spend cash on enacting policies that benefit those industries. For example, the oil industry has successfully blocked climate change action for decades even after they knew an action was needed. Perhaps they're not as powerful as Standard Oil but they surely are powerful enough to profit maximize at the expense of so much else.
Put differently, if the breakup of monopolistic industries in the first half of last century produced a virtuous cycle, which supposes some durability, why do we find ourselves with virtually the same problem today?
Isn't that essentially the same wrinkle that was mentioned in the article with the Napster reference and the movie and music industries banding together?
Yeah, and I don't buy the argument. It only works if the players haven't figured out they have conmon goals and that they have to pool resources to achieve them. That's not a hard thing to figure out. The tendency to cartelization demonstrates this. But cartelization only demonstrates that people can figure out they need to pool resources. They don't need a cartel to pool money and funnel them into politicians pockets. All they need is industry lobbying associations and think tanks. Wouldn't you know it, we have both and they're working splendidly to further the regulatory interests of the corporations funding them. That competing parties won't be able to do this seems like wishful thinking to me. That tech couldn't do it during the Napster days I think is rather circumstantial and evidence for the people running those companies not having their shit together. Which makes sense given their age at the time.