Slashdot Mirror
Greek Government Abruptly Shuts Down State Broadcaster
An anonymous reader writes "The Greek government shut down broadcasting of all TV and radio channels operated by the state-owned broadcaster ERT at midnight local time, with police ejecting journalists and other employees occupying the building. The above link is a prominent Greek economics professor's (and Valve's in-house economist) analysis of the political motivations for the move."
That's kind of weird. We hear about governments shutting down all broadcast media other than state-owned media so often that the opposite is just...bizarre...
What's the rest of Greece's commercial broadcast media like? What was this organization like? The only analogues I have are NPR and PBS for "state owned" and that's not necessarily entirely accurate, and that private broadcast media here in the US is often very, very heavily biased, even moreso when they make claims to the contrary.
Do not look into laser with remaining eye.
We have those same 4 channels in Greece too. It's just that we lost the one that didn't show them.
And here we have a perfect example of (one of the reasons) why Greece has the problems it has. People so convinced that the are owed more of everything as to think that goods being sold by private companies can be price fixed by the government so they can afford them.
The point of regulation is to prevent companies from market manipulation. Companies will naturally move to maximize profits and will, if allowed, perform any action to do so. Competition gets eaten up while at the same time no room is left for new players. Eventually, the market dies.
So regulation is required to facilitate a healthy market. Rules are put in place to ensure that established companies can not prevent competition from entering a market. Limits to what monopolies can do are instigated. Everybody is forced to play fair in an attempt to maximize competition and the benefits of capitalism.
People go on and on about how capitalism and regulation are polar opposites. This is ludicrous. Without regulation the benefits of capitalism do not exist. The invisible hand is an idealized concept which, much like communism, ignores reality and is doomed to failure. A market without sufficient regulation will not optimizes overall efficiency. Of course too much regulation also reduces efficiency - but a certain amount is always required.
So this isn't about the Greek people wanting the government to fix prices - this would obviously not work. It's about opening up the markets that have been sewn shut by the current players. This required effective regulation - far easier said then done.