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Actually, they're not as out of touch as you might think. They just act out of touch to minimize the backlash that would happen if people discovered that they're acting the way they are intentionally to steer the outcome favorably in their direction. They know they can't stop the market from changing, but they can almost certainly steer it in ways that benefit them by forcing people unwittingly to make the necessary changes for them. Then when the time is right, they "relent" and appear to go forward into the new market begrudgingly, when they're actually sipping champaign and eating caviar in celebration of a controlled market switchover.
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