Given the fact that economists always get up in arms (shrill?) when someone proposes a tariff or quota that might have the effect of protecting the jobs and wages of blue collar workers, yet they never can be found when a barrier is proposed to aid highly educated professionals or the pharmaceutical or entertainment industry, one might suspect a class bias.
The Washington Post has an article on the entertainment industry's efforts to increase penalty's for copyright violations. The article wrongly claims that these violations cost the economy money. This is untrue on its face. The losses to the industry are gains to consumers, and those who know economics would know immediately that the gains to consumers vastly exceed the losses to the industry. Some economic analysis would be useful in this article.
If you enjoyed this article, please consider making a tax-deductible donation today. For over 30 years, The American Prospect has delivered independent reporting that exposes corporate power, investigates political corruption, and analyzes threats to our democracy. Unlike many media outlets, we’re not owned by billionaires or corporations—we’re powered by readers like you.
Today’s independent journalism faces unprecedented challenges. Your support makes our reporting possible and keeps our work free and accessible to all. Whether it’s $5 or $50, every contribution helps sustain our nonprofit newsroom.
Join our community of supporters and make a donation today to help keep independent journalism thriving.
Copyright 2025 | The American Prospect, Inc. | All Rights Reserved
