The Economics of Ideas and the Ideas of Economists
AbstractOn college campuses across the country and on millions of home computers, too, young adults download from each other digital files containing recorded music and films for their entertainment. The owners of that copyrighted material pursue the downloaders with legal action as well as the software services that facilitate it. Napster’s existence as a free file-sharing internet site was shut down in 2001, and the Supreme Court has recently ruled that a successor file-sharing service, Grokster, engaged in copyright infringement by providing an easy way for individuals to exchange files. The amount of filesharing activity is not trivial; Paul Romer (2002) estimates that Napster users were downloading at the rate of 1.5 billion downloads per month before Napster was shut down and that the consumer surplus generated by downloading roughly equaled the revenues of the recording industry.
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Bibliographic InfoPaper provided by University of Virginia, Department of Economics in its series Virginia Economics Online Papers with number 368.
Length: 23 pages
Date of creation: Nov 2005
Date of revision:
Contact details of provider:
Web page: http://www.virginia.edu/economics/home.html
Intellectual Property; property rights; creativity;
Other versions of this item:
- William R. Johnson, 2006. "The Economics of Ideas and the Ideas of Economists," Southern Economic Journal, Southern Economic Association, vol. 73(1), pages 1-12, July.
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property Rights
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-23 (All new papers)
- NEP-CUL-2007-01-23 (Cultural Economics)
- NEP-IPR-2007-01-23 (Intellectual Property Rights)
- NEP-SOG-2007-01-23 (Sociology of Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert W. Fogel, 1999. "Catching Up with the Economy," American Economic Review, American Economic Association, vol. 89(1), pages 1-21, March.
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