why the music industry slit their own throat.

From The Business of Technology “Economists have a name for this problem: moral hazard. Moral hazard happens when […]

From The Business of Technology “Economists have a name for this problem: moral hazard. Moral hazard happens when the actions of agents can be hidden from principals, creating “agency costs” because agents are able to shirk and not deliver on their end of the bargain.”

This is the best explaination I’ve seen of the rise of napster, kazaa et al….

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