In the previous DRM articles, I’ve looked at how the Incentive and Labor Theories impact the way people argue DRM issues on both sides.
This article will focus on Economic Theory and DRM.
Economic Theory is cynical of the Labor and Incentive Theories as it looks through the eyes of Homo economicus, the rational self-maximizer.
The basic assumption in Economic Theory is that in market scenarios individuals will act rationally to get the highest level of utility or value for the least cost.
In an economic rhetoric, the fundamental purpose of copyright is to create ownership rights in creative works in order to commodify them.
Why is it in the best interest of society to commodify creative works? Because doing so creates wealth and social order.