tonight's 4 Corners (link) showed how unbridled capitalism can destroy its own resource.
Live Nation is the target of tonights report. Live Nation owns a massive slice of the live entertainment industry and through their ownership of Ticketmaster and promotions companies as well as mid-sized to large venues and associated businesses such as merchandise sales.
the problem arises when the business gets so large that it threatens the existence of competitors. and it gets worse when its shown how the company charges additional fees both to keep the band musicians poor and to fleece purchasers from Ticketmaster.
its fair to say they Live Nation isn't the creator of these problems. many promoters and venues have ripped off bands and Ticketek were charging add on fees 30 years ago.
while there wasn't a great big shark in the pond the local big fish were all getting on nicely. but Live Nation takes the system to an extreme it seems. you'll have to click th link above and read if you want substantiation.
but my point is that unbridled capitalism is killing the smaller venues and promoters and even preventing new bands from gaining a wider audience. it as John Ralston Saul said 30 years ago that capitalism must work within a regulatory framework to ensure competition and productivity growth can be sustained.
I'm not arguing any dumb socialist imperative, but the survival of a healthy active economy or the monotony of being a mob of sheep fed by an all controlling and fleecing Big Brother music industry monopoly.
