After mentioning that the fashion industry does quite well without relying a lot on IP, Jeff Tucker delivers this beautiful apologia for the truly free market.
"...other producers jump into the market, eventually profits for everybody gets lower and lower and the margins fall ... until they approach the point of zero. This is the way markets work. If you want to think of the free market this way, you can look at it as a giant conspiracy to reduce all profits to zero. I mean that's pretty much what a free market is in a competitive free market. What IP does is stops this process...."
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