1 de Junho de 2009

Set up a torrent tracker, get fined, go to jail.
Join a bank, destroy the economy, profit.
Let’s draw out the distinction.
The Pirate Bay guys were criminally prosecuted for….violating (largely obsolete) copyright. Almost no one in finance has been held even civilly liable for vastly more economically damaging actions.
On the one hand, we have damages worth maybe (maybe) a few million. On the other, a few trillion.
On the one hand, innovation and better music is stifled — benefits are foregone. On the other, reform of a broken banking system is stifled — losses are incurred.
That’s everything that’s wrong with the economy in two sentences: the ongoing inability of today’s leaders to deal with 21st century economics.

in EDGE ECONOMY

1 de Junho de 2009