How Much Would You Bid On eBay To Explain Market Economics To Sundance Festival Organizers
from the buy-it-now dept
A couple of years ago, Live 8 organizer Bob Geldof got into a war of words with eBay over the unauthorized exchange of concert tickets on the site. Geldof insisted that eBay, by allowing people to sell tickets to each other, was profiteering on the backs of the poor (even though the site said it would donate all proceeds from those particular auctions). Of course, Geldof's argument made no sense, and simply revealed how little Geldof understood about the market system. The exchange of tickets on eBay isn't hurting anyone, least of all those benefiting from the Live 8 concert. And apart from Geldof's dubious philosophical complaints, neither Geldof nor the Live 8 organization have any business telling people what to do with their legally acquired private property. Unfortunately, Geldof wasn't the last try one to make this argument. The organizers of the Sundance Film Festival are threatening to deactivate any screening tickets sold over eBay. It's not clear whether they actually will (or can) carry out with the threat, but beyond that, it's hard to see what Sundance's problem is with this activity. The festival isn't losing any money from this, and the fact that there are people willing to pay over $300 for a ticket to the newest Keri Russell movie means that the audience will actually represent hardcore fans. At least Geldof had the pretense of wanting to benefit the greater good with his complaint.