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"For me, therefore, the BitTorrent response to Bell Canada provides some rather quick confirmatory proof that (a) 'the free market' really does work in predictable ways, in that those with incentive and ability to act will do everything they can to maximize their short-term advantage heedless of the possible damage to the underlying system in the long run; and, (b) most techno-Libertarians seem unwilling to believe that the Gods of the Marketplace will permit such blasphemous outcomes to occur -- and will therefore see the bad outcomes as the result of the evil application providers abusing the innocent network operators rather than as a predictable market response. But as we members of the Congregation of the Progressive Capitalist understand, 'The Market' does not care about outcomes. The Market moves in accordance with its own dictates, indifferent to the results, bringing highly predictable ruin even unto itself if not properly managed and directed as needed. Which is why I 'trust the market' but I do not worship it.

"You want certain outcomes? Be prepared to regulate where reasonable understanding of market incentives predicts that the most likely outcome is not what you want. Otherwise, take what comes from the Gods of the Marketplace, who remain both predictable and utterly indifferent to your needs or desires."

-- Harold Feld, 2008-12-01

( Harold Feld, on what the market does, versus what ideology says it ought to do )

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