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You are absolutely right. Also consider the lending of books between friends. When I was in high school and the early university years it was also a matter of money. We certainly couldn't buy all the books we wanted, so we shared our books and a copy got read by 3-5-10 people before it actually got back to the buyer. If I can lend my hard copy of a book why shouldn't I be able to do that with the electronic version. Ok, I could un-DRM the ebooks but that is not the answer. I also believe that in the long run there is no change in the profit the companies make if it is DRMed or not...
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