Reason On How and Why 38 Studios Went Bust

cathyreisenwitz writes "The 2012 bankruptcy of Rhode Island-based video-game developer 38 Studios isn't just a sad tale of a start-up tech company falling victim to the vagaries of a rough economy. It is a completely predictable story of crony capitalism, featuring star-struck legislators and the hubris of a larger-than-life athlete completely unprepared to compete in business." Reason makes no bones about its view of this kind of public-private "partnership."

Comments

Re:blah blah Capitalism Evil blah blah

[minstrelmike]

Capitalism is not Free Market either. A free market forces producers and businesses to pass profits along to consumers in the form of lower costs. A free market would tell Monsanto to advertise their food as genetically-modified instead of hide it. That would force Monsanto to sell the GM food for cheaper. Pass the profits to the consumer. Capitalism just means someone besides the 1st estate (church) and 2nd estate (government) gets to keep large sums of money in their own hands.

Re:blah blah Capitalism Evil blah blah

[Q-Hack!]

Nice revitionist theory you have there.

Perhaps you should not get your information from Michael Moore, et al.

Regulation applied to capitalism has always made things worse. The capitalist have always had to figure out how to work around various regulations. Many times with very bad unintended consiquences. The great depression comes to mind. The ression of 2007 being another.

But I am willing to give you a chance... go ahead and name a regulation applied to capitalism that made things better. I will prove you wrong in every case.