CDs and the Scarcity Principle

Interesting article from MP3newswire.net comparing the recent change to the diamond cartel as described in this slashdot post and what P2P really means for the record industry cartel. Both industries increased profits through artificial shortage and are now both threatened by recent entities that will, or already have, ended product scarcity. It reminded me of how the record companies, in their lawsuits against file traders, demand $150,000 per song traded in damages when there never will be any lost revenue even marginally approaching such a ridiculous figure.