• @[email protected]
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    12 months ago

    The artificial scarcity we’re talking about is things like monopolistic industry restricting the theoretical max output of a good solely for profit

    Yeah monopolies are really bad. Which industries do you believe are monopolized right now?

    • ArchRecord
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      12 months ago

      I mean, it’s a pretty long list 😅 Pretty much every industry has major players that engage in monopolistic practices, whether it be software and hardware companies like Apple, Google, or Microsoft controlling operating system and hardware distribution and production in a manner that effectively creates a duopoly for both the smartphone and PC market, or grocery store chains like Kroger buying up all the smaller brands, then using that to jack up prices.

      I did bring up a specific case in my prior post that I think is a good example though, and that’s utility patents on seeds to restrict their re-use, primarily done by companies like Bayer (which has bought up and killed off many seed brands over the years to form a near-monopoly on the industry, with only a few other major players) essentially requires that farmers can only use their seeds a certain amount of times before they’re legally obligated to re-purchase new ones. (even though the old seeds still work perfectly fine)

      Not only does this mean you have to pay more money for produce (and the goods made from it) because farmers have to raise prices to cover costs, but it also means that the theoretical max capacity for food production is limited by how many new seeds farmers can afford to purchase year after year, and the fact that they can’t gift them to anyone else to help spread agricultural practices to new farmers.

      We have antitrust laws, many are already advocating for them to be used against these monopolies, yet the government does nothing to stop them.

      It’s disappointing, to say the least.