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Dumas: I'm also a long-time lurker posting for the first time to thank you for an insightful comment. The digital world is wreaking havoc on the business models of record labels, movie studios, and book publishers. But the real question is what to do about it.
Copyright was intended to give an artificial monopoly for a limited time to content creators as incentive to create. However, in a market without scarcity, enforcing copyright becomes near impossible and if there is no scarcity the value of the good quickly approaches zero.
So how do we reward the content creators for their work if replication and distribution of said work is fast, easy, and nearly free?
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