Monday, December 04, 2006

Is Hollywood the Last Bastion of Capitalism?

Hollywood is frequently attacked as a Marxist enclave, but what American business sector is more purely capitalistic?

The defense industry is almost wholly dependent on government money.

Agriculture receives huge government subsidies.

Medicine relies on many types of government funding.

The oil and gas industries derive much of their income from resources extracted from government land, much of it below market value.

Housing and utilities rely on government-supplied roads, dams, sewers, etc.

Even the most "modern" American industries (software, computers, jet aircraft, the internet, biotech, etc.) were built on top of massive government-funded research and development efforts.

Outside of a little money for PBS, I can't think of any support Hollywood gets from the government. In true capitalistic fashion, studios risks tens or even hundreds of millions of dollars on projects, then cross their fingers and release them into the purest market in America.

Today, the spirit of Adam Smith lives on more in Hollywood than anywhere else in America.


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