Intellectual property rights are monopoly rights, which have undesirable welfare properties. Therefore, several studies suggest using rewards as incentives for innovation instead. However, these studies have thus far had little effect on actual policy, possibly because such rewards may be difficult to implement in practice. We suggest a new way of providing incentives to originators, which is easier to implement. Our suggestion can be used if there is an additional market in which originators operate, where copying is not easily possible. In this case, intellectual property rights in one market can be replaced by subsidies in the other market. Taking the music industry as example, copyrights in the records market could be replaced by subsidies in the market for live performances. We develop a partial equilibrium model that can be used to analyze in which cases the replacement of intellectual property rights in one market with subsidies in another market is welfare improving and better for the originator. A numerical application example suggests that the subsidy scheme may indeed be better in the music industry. The subsidy scheme can be implemented as a voluntary option, which would even be possible without changing the legal framework of intellectual property rights.

India's telecom sector underwent a structural transformation after Reliance Jio's entry in September 2016, shifting the industry from per-minute and per-megabyte pricing to bundled flat-rate plans. This paper uses the theory of two-part tariffs to examine whether Indian telecom pricing, before and after Jio's disruption, can be read through the lens of surplus extraction, deadweight loss, and market power. The central argument is that the pre-Jio pricing regime, characterized by high per-unit charges and negligible fixed fees, was consistent with a monopolist operating well above marginal cost and generating substantial deadweight loss. Jio's entry forced prices toward marginal cost and restructured the industry's tariff design into something much closer to the two-part ideal: a fixed monthly subscription paired with effectively zero per-unit charges on voice and data. This shift reduced deadweight loss and reallocated surplus from incumbent firms to consumers, though at the cost of severe revenue compression across the industry. The postconsolidation period after 2021, as a reduced set of three private operators has steadily raised fixed fees, represents a partial reversal of these gains.

discourage the sharing of ideas and encourage nonproductive rent seeking behavior, both of which impose a deadweight loss on the economy and erect a prohibitive Criticism of capitalism typically ranges from disagreement with particular aspects or outcomes of capitalism to rejection of the capitalist system in its entirety. Criticism comes from various political and philosophical perspectives, including anarchist, socialist, religious, and nationalist viewpoints. Some believe that capitalism can only be overcome through revolution, while others believe tha Criticism of capitalism typically ranges from disagreement with particular aspects or outcomes of capitalism to rejection of the capitalist system in its entirety. Criticism comes from various political and philosophical perspectives, including anarchist, socialist, religious, and nationalist viewpoints. Some believe that capitalism can only be overcome through revolution, while others believe that structural change can occur gradually through political reforms. Some critics believe that capitalism has merits and wish to balance it with some form of social control, typically through government regulation (e.g., the social market movement). Prominent among critiques of capitalism are accusations that it is inherently exploitative, alienating, unstable, and unsustainable; that it creates massive economic inequality, commodifies people, is anti-democratic; and that it leads to an erosion of human rights and national sovereignty. At the same time, it incentivises… For… Critics argue that capitalism is associated with the unfair distribution of wealth and power; a tendency toward market monopoly or oligopoly (and government by oligarchy); imperialism, counter-revolutionary wars and various forms of economic and cultural exploitation; repression of workers and trade unionists and phenomena such as social alienation, economic inequality, unemployment and economic instability. Critics have argued that there is an inherent tendency toward oligopolistic structures when laissez-faire is combined with capitalist private property. Many socialists regard capitalism as irrational in that production and the direction of the economy are unplanned, creating many inconsistencies and internal contradictions, and thus should be controlled through public policy. In the early 20th century, Vladimir Lenin argued that state use of military power to defend capitalist interests abroad was an inevitable corollary of monopoly capitalism. In 2019, Marxian Economist Richard D. Wolff argued that Capitalism is unstable, Capitalism is unequal, and fundamentally Undemocratic. In a 1965 letter to Carlos Quijano, editor of Marcha, a weekly newspaper published in Montevideo, Uruguay, Che Guevara wrote: