it's easy to agree with this analysis, scoff at the economy and its participants, and move on. But the reality is that the economy and the participants are rea

it's easy to agree with this analysis, scoff at the economy and its participants, and move on. But the reality is that the economy and the participants are reacting in sane ways to an insane regulatory environment. That sounds silly, because regulation has never been more unpopular, but it's stealth regulation in the form of patents, copyrights, and other "intellectual property" laws working hand in hand with licensing and scope-of-practice restrictions that incumbants use to stifle newcomers. Combine that with fallow enforcement of antitrust laws, and it is a disaster. We need to make the legal system more supportive of competition in all forms, and we should elect politicians who will make that happen. The catch-22 is the efficacy of lobbying money in preventing this change: incumbants have captured the legislature, and it will be very very difficult to fix.