Jack White Defends Capitalism

"And if you lend money only to those who can repay you, what good is that? Even sinners will lend to their own kind for a full return." Luke 6:34

Have you heard about this popular rock star?

Compared to others, he is quite bizarre,

Defending Capitalism,

Not the norm radicalism,

As fluent with economics as a guitar!

"At present the peace of the world has been preserved, not by statesmen, but by capitalist."

Benjamin Disraeli (1804 - 1881)

It is good to see a rock star with a level head on his shoulders. Most musicians put down businesses and profits, but not Jack White of White Stripes, he actually defends capitalism. That is what I call a 'breath of fresh air', because it is quite rare.

Recently, White expressed his frustrations with Third Man Records because they put out a limited print of records and sold them for too low of a price. Dozens of the low-priced records were bought in bulk and "flipped" on eBay for hundreds of dollars.

Forbes recently said this:

"Third Man Records, puts out limited prints of records in order to meet customer demand 'to be involved in collecting rare and interesting vinyl.' There is a problem with this though. If you make something rare and valuable, the market price will be high."

"But White realized that 1)if customers want rare and valuable albums they will be expensive, 2)the market price will be reached no matter what they sell them for initially, and 3) if someone is going to profit it might as well be the creators,".

White decided to let the market demand dictate what people would pay for the records through auctions. He found out that people were willing to pay up to $300 for a "rare" vinyl.

After White started doing this, people complained that the auctions were "exploitative", but White defended his capitalist approach by saying this:

"We sell a Wanda Jackson split record for 10 bucks, the eBay flipper turns around and sells it for 300... If 300 is what it's worth, then why doesn't Third Man Records sell it for 300? If we sell them for more, the artist gets more, the flipper gets nothing. We're not in the business of making flippers a living. We're in the business of giving fans what they want... Make no mistake, we could make twenty thousand split color whatever for you, and they'll be worth 20 bucks, and you'll pay 20 bucks for them, and you'll never talk about them, desire them, hunt to find them, etc. why should eBay flippers, who are not real fans, dictate the price, make all the profit (taken from the artist and the label) and take the records out of the hands of real fans. There's a guy who waits in a black SUV down the block from Third Man who hires homeless people to go buy him tri-colors when they are on sale. Doesn't even get out of his car. Should he be charged ten bucks or two hundred? Don't be spoiled, don't insult people who are trying to give you what you want... Don't get mad at Third Man for giving you exactly what you've asked for, and seriously stop all of the whining, because what you communicate to us is that all of the trouble we go to isn't worth it because nothing we do will make you happy."

Why anyone in Hollywood or Show Businesses is against capitalism is beyond my understanding. If it wasn't for capitalism, none of them would be the rich people that they are today. I am starting to think the H in Hollywood stands for Hypocrisy!

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