Beyond Profits, The Corporate Period in the Arts, part 7
Some interesting effects occur when a company grows large and powerful or even hegemonic in a given market. You can expect it to exploit the lack of competition and raise prices for consumers, and perhaps also exploit labor with low wages if it is the sole employer in a given labor specialty or geographic location. This inverse is called a monopsony, a single-buyer situation. However, for the purposes of the arts, the corporation becomes not just an economic force but a cultural force, and that draws certain people to it as well as allows for an approach to production that…
