In a simplified way, the story of the collapse of the Soviet Union could be told as a story about grain and oil.
Because sharing music is 14.5x more damaging than catastrophic, lifestyle-killing oil spills?
Independent estimates have the final cost of the BP spill at between 3 billion and 12 billion dollars. If Limewire has to pay, why doesn't BP?
And why isn't the entire American public as powerful a lobby as RIAA?
The record labels have told a federal judge LimeWire is liable for possibly “over a billion dollars” — the latest sign that the industry is seeking to annihilate the New York-based file sharing company.
The Recording Industry Association of America’s court filing Monday comes a week after the labels asked U.S. District Judge Kimba M. Wood to shutter LimeWire (.pdf). Weeks before, the New York judge ruled LimeWire’s users commit a “substantial amount of copyright infringement” (.pdf) and that the Lime Group, the company behind the application, “has not taken meaningful steps to mitigate infringement.”
“The amount of statutory damages awarded in this case easily could be in the hundreds of millions of dollars (if not over a billion dollars),” the RIAA wrote to Wood, in seeking a court order to freeze LimeWire’s assets (.pdf).
Stanford University economist Paul Romer has observed, "Every generation has perceived the limits to growth that finite resources and undesirable side effects would pose if no new recipes or ideas were discovered. And every generation has underestimated the potential for finding new recipes and ideas. We consistently fail to grasp how many ideas remain to be discovered. The difficulty is the same one we have with compounding: possibilities do not merely add up; they multiply.”