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by browningstreet
557 days ago
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They're not the arbiter of wisdom, they're the arbiter of commercial success & market viability, which is always a bell curve to the bottom (see Stanley Cups and cupcake, boba, and dumpling retail [in the US]). I worked in the film industry, in DVDs, at the height of that market. Sales of DVDs tumbled. End of story. There was nothing for the studios to do because the ROI was dead, and their previous efforts (which were terrible natch) to manipulate the DVD market (cheaper, limited play product) were dumb. DVDs were great, streaming ate their lunch. Calling capitalism's market economics an idiocracy is.. tautological. |
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Thats definitely not true. The most ardent and smart defender of markets argued that they operate and optimize within the boundaries that society decides. If you legislate that people should be able to repair, own, exchange etc. stuff then markets will deliver exactly that. If you let them race to the bottom thats also exactly what you will get.