I take an economist's view of the issue: if the Internet has brought the market value of recorded music to zero, this constitutes a market failure. In the event of a market failure, an economist would prescribe government intervention. I will briefly describe the problem with illegal downloading and then offer several solutions for government intervention. Finding them lacking, I conclude that only enlightened consumerism will do until governments can better address the problem.
Showing posts with label Internet. Show all posts
Showing posts with label Internet. Show all posts
10 June 2013
Illegal Music Downloading: An Economist's View
One year ago, David Lowery (musician of Cracker and Camper Van Beethoven fame) wrote a blog post in which he decried the practice of illegally downloading music. The post proved a subject of great argument that summer, with other musicians and tech folks chiming in with surprising intensity.
I take an economist's view of the issue: if the Internet has brought the market value of recorded music to zero, this constitutes a market failure. In the event of a market failure, an economist would prescribe government intervention. I will briefly describe the problem with illegal downloading and then offer several solutions for government intervention. Finding them lacking, I conclude that only enlightened consumerism will do until governments can better address the problem.
I take an economist's view of the issue: if the Internet has brought the market value of recorded music to zero, this constitutes a market failure. In the event of a market failure, an economist would prescribe government intervention. I will briefly describe the problem with illegal downloading and then offer several solutions for government intervention. Finding them lacking, I conclude that only enlightened consumerism will do until governments can better address the problem.
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