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by datsci_est_2015
35 days ago
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> The […] tried to achieve artificial scarcity for profit. All scammers? Yeah, I don’t really see a difference between scamming and certain types of rent seeking. So many things could fit in the blank there, not just the entertainment industry. If: - you’re not creating value
- you’re exploiting the value someone else has created
- you’re engaging in anticompetitive, anticonsumer behavior
- etc.
You’re rent seeking and the only reason we’re don’t use the word “scammer” is because the concentration of wealth of the western world is built on rent seeking behavior. |
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