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The Times reports that 'Pirate-sharing films are throttling Hollywood'. Some people feel that new movies and music cost too much, whether for downloads or for physical CDs and DVDs. Whatever the format we are all entitled to object to the price but stealing the product is not a valid form of objection.
I may desire a movie and feel that it is too expensive and that the Producers are ripping me off so feel justified in downloading it illegally. However if I see an iPod in a store and reckon that it's too much money I wouldn't just take it for free.
Many people need to be rewarded for their work in bringing the content to the consumer; Composers, Artists, Actors, Producers, Directors, Graphic Designers, Distributors and so on. Rarely does the work go directly from the artist to the consumer. The bulk of the material we view and hear has involved dozens, perhaps hundreds of people. So there is just as much loss and injustice when a download theft takes place as when a physical theft does.
Update: Pirate bay Founders Walk the Plank over Free Downloads
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