Among the sillier conspiracy theories are those that might be called "profit conspiracies." Among the more popular of such rantings are:
--The reason no one has cured the common cold is because drug companies want to sell symptom relief drugs (e.g., cough syrup, decongestant) forever. (But, for a real conspiracy, see
here.)
--Fluorescent light bulbs are deliberately designed to burn out prematurely (i.e., GE has a "forever bulb" locked away in its vaults that it deliberately keeps off the market). (But, for a real conspiracy, see
here.)
--Major appliances could be designed (by whom?) to last longer than they do (how?), but the manufacturers rely on "planned obsolescence" to sell more product.
And so on.
The false premise underlying "profit conspiracies" is of course that "business" — and especially "Corporate America" — is a single conspiratorial entity: that Coca-Cola doesn't really compete with Pepsi, that Pfizer doesn't really compete with Merck, that Bank of America doesn't really compete with Wells Fargo, that General Motors doesn't really compete with Ford, that Procter & Gamble doesn't really compete with Colgate-Palmolive, etc.
So how do the "profit conspiracy theorists" explain
this?
The first birth-control pill meant to put a stop to women's monthly periods indefinitely won federal approval Tuesday. Called Lybrel, it's the first such pill to receive Food and Drug Administration approval for continuous use. When taken daily, the pill can halt women's menstrual periods indefinitely and prevent pregnancies.
Lybrel is the latest approved oral contraceptive to depart from the 21-days-on, seven-days-off regimen that had been standard since birth-control pill sales began in the 1960s. The pill, manufactured by Wyeth, is the first designed to put off periods altogether when taken without break.
Seems to me the (not small) feminine hygiene industry would have summoned a meeting of the "profit conspiracy" to protect their (not small) profits from the introduction of Lybrel, the same way that the cough syrup companies supposedly suppressed not just coughs but also a cold cure.
If they could have.
But of course, as Lybrel demonstrates, there is no "profit conspiracy." Companies within an industry compete against each other. Industries compete against each other. Even the most disparate and orthogonal products must compete against each other for the finite purchasing power of consumers. "Guns or butter?" is as true as it ever was.
But how does an economy go from "Guns or butter?" to "Guns or butter or Lybrel?"?
Lybrel is just the latest high-profile example of the role of entrepreneurship in economics, and the human condition, and of the urgent need of anti-capitalists to blank it out. Think Lybrel would have been invented in Hugo Chavez' socialized industry Venezuela — or Paul Krugman's socialized medicine America? Would Wyeth have risked millions of dollars on R&D to develop Lybrel if they did not anticipate a demand for it (or if they expected the government to seize it once developed)?
Profits are
not a "residual." They are
not "stolen" from "exploited" consumers or workers (both of whom are, in a free society, merely willing participants in a voluntary exchange). Profits are the compensation for a service: entrepreneurship and risk-taking.
What is the true motivation of those who seek to blank out entrepreneurship and risk-taking, if not to delegitimize, and then steal, profits? And who would dare suggest that such a worldview reflects a quest for "social justice"?
That is the true "profit conspiracy."
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For discussion:
--How soon before radical feminists, neo-hippies and other professional anti-progress malcontents decry Lybrel and praise menstruation as a noble, to-be-celebrated part of the "female experience"? (For
example: "The danger, from a standpoint of emancipation, is that some of these women won't shut off the bleeding to satisfy themselves. They'll do it to satisfy others.")
--If taxpayers can be expected to foot the bill for other people's Viagra (via Medicare), then how long before demands are made for taxpayers to foot the bill for other people's Lybrel (perhaps via Medicaid)?