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The Motion Picture Association will work with Congress to start blocking piracy sites in the US (www.engadget.com)

submitted 7 months ago* (last edited 7 months ago) by [email protected] to c/[email protected]

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[–] [email protected] 8 points 7 months ago* (last edited 7 months ago) (1 children)

That's an unregulated market. It's a bit counterintuitive, but an idealized free market would need to be free of price fixing and monopolization, and therefore requires regulation.

That's what all these invisible hand folk always get wrong.

[–] [email protected] -1 points 7 months ago (1 children)

I agree 😇 free market leads to one big monopoly which decides anything for anyone. Regulation is needed all the time, as we saw (and see) with Microsoft and now with Apple, Amazon, Google etc.

[–] [email protected] 1 points 7 months ago* (last edited 7 months ago)

free [?] market leads to one big monopoly

Unregulated market ≠ free market. That's what I just explained. If you'd like a better understanding I'd highly recommend auditing econ 101 online through MIT: https://youtu.be/_OkTw766oCs?si=twyynoEzf-bi5k3m

It's not a tough course, and it's probably one that everybody should take anyways, TBH.