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> we need to invest in the intellectual property that artists make, not the artists themselves

At first approximation, this sounds like a worse scenario for the artist.

> Why should we do that? Because it works and its a foundational element of a market economy.

Modern finance has already created a model where music artists are beholden to financiers and middlemen. How and why do you expect this to turn out differently?



Tyler Cowen wrote an entire book that answers your questions. It is called "In Praise of Commercial Culture".

http://www.amazon.com/Praise-Commercial-Culture-Tyler-Cowen/...

I expect it to turn out differently because the legal and accounting costs for future digital contracts will drop drastically.




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