Capitalism can be brutal. Whatever the rights and wrongs of it, the fact is that people are downloading-free-from-the-internet-stroke-stealing-whichever lots of music, and Big Music has yet to invent a version of electronic barbed wire which doesn't threaten to reach out and wound the innocent, for instance by wrecking the PC of a listener whose only crime is to want to listen to a CD on it, or else simply by snooping on absolutely everyone in a way which threatens to undermine western civilisation and all that it stands for. So, Big Music is cutting its prices:

Battered by online piracy, the Universal Music Group, the world's largest record company, said yesterday that it would cut prices on compact discs by as much as 30 percent in an aggressive attempt to lure consumers back into record stores.

The deep price cut — the only one to apply to new CD's since the format was introduced in the early 1980's — represents a gamble by Universal that more consumers will buy more CD's once the price dips below $13. It also reflects the profound degree to which Internet file-trading has managed to undermine the music business, Universal executives said.

"We are in the middle of a terrible situation where our music is being stolen," said Doug Morris, chairman of Universal, which includes labels like A&M and Island Def Jam and artists like Eminem, Elton John and U2. "We need to invigorate the market, and as an industry leader we felt we had to be bold and make a move."

Under the new pricing scheme, Universal would lower its wholesale price on a CD to $9.09 from $12.02. The company said it expected retail stores to lower CD prices to $12.98, from the $16.98 to $18.98 they now charge, and perhaps to as low as $10. When CD's first arrived on the market they cost $15.98, and have climbed from there.

The usual what-do-I-know? caveats apply with more than usual strength here, but I can't see this working. These lowered prices are still way high enough to keep the thieves thieving, but could do terrible damage to Big Music profits. It's one hell of a gamble. "Bold", like the man says. ("Courageous" is the Yes Minister version of that adjective, as in "stupid".)

I've also noticed another Big-Music-threatening syndrome that rattles about inside my head in circumstances like these. While DVD prices have been falling, I've caught myself saying, when confronted with a price of £7.99 down from £9.99 down from £12.99 down from £19.99: "Wait! There's more to come." A lowered price which I guess may actually only be a lowering price causes me to hold off until they make it an official fire sale.

We'll see.