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Get Ready for the Internet Robber Barons

Main St. Agenda by from Wall Street Journal, April 1, 2014

Do you remember the original robber barons? No, they were not the great American industrialists/philanthropists of the late 19th century—men who were unfairly tagged with the moniker. I mean the originals: the German barons of the 13th century who controlled the Rhine River, which was the primary channel of commerce and communications for central Europe. Their castles overlooked the river, and they exacted tribute from every passing ship.

The barons ignored customary “just” tolls, charged whatever the commerce would bear, exacted payment “in kind” from cargoes, and exercised power by controlling strategic territory. These Raubritter provided no real service other than the extortion implicit in allowing safe passage past their own weapons.

The world may see history repeat itself with the Internet, and the unintended consequences are likely to be profound. . . . Continue reading this piece from the Wall Street Journal here.

Photo credit: Jennifer Finley, via Flickr