Re:Intel wants to charge $50 to unlock stuff your CPU can al...
by nostrademons on Saturday September 18, 2010 @09:56PM
(#1705403)
Students in intro economics courses (in American universities) already are taught this. Most microeconomics courses will have a lesson about how during the Depression, farmers were paid to destroy crops in the field, to reduce the supply of them and raise the price of commodities. Or how today, farmers are incentivized to convert their crops to non-productive uses like biodiesel to keep the price high.
The formation of Standard Oil in the 1880s was a reaction to ruinous overproduction of oil, and its effect was to control and restrict the flow of oil onto the market to maintain prices. Same with the OPEC cartel today.
That people don't already know this says more about the educational system than the economic system. Then again, the educational system is itself a monopoly that seeks to restrict the flow of information so that it keeps itself relevant.
The formation of Standard Oil in the 1880s was a reaction to ruinous overproduction of oil, and its effect was to control and restrict the flow of oil onto the market to maintain prices. Same with the OPEC cartel today.
That people don't already know this says more about the educational system than the economic system. Then again, the educational system is itself a monopoly that seeks to restrict the flow of information so that it keeps itself relevant.