How many of you have a lot of free songs which are downloaded from the internet? Do you purchase music these days? In the modern society, there are less and less people who take the trouble to borrow some CDs at the shop or to purchase the album of Taylor Swift. This is just because we can freely download music from the internet, which is pretty convenient for us.
From the reading this week, however, I am wondering how the musician could subsist on their lives while many of us enjoy the benefits of being able to freely download music from the internet. This has something to do with copyrights and intellectual property right. In the first place, why is discussing copyrights or intellectual property right important? The reason for this is because we are now online using the internet, resulting in the fact that we need to be regulated in some ways to avoid illegal uses of new goods originally produced by the creators’ effort.
It is certain that there seemingly should be those rights when we think like above. However, the life without them might be able to bring us more benefits. Why? Firstly, we can expect that making the existing sources freely available to all producers leads to promoting further innovation. In other words, based on the original goods, all producers can then create and mix many different things or ideas to produce more convenient goods for people. Secondly, in terms of economics, no rights can improve the economic effects. One of the economists, Adam Smith, strongly explained how monopolies make less available at higher price. For example, production of music: when the creator of music applies the monopoly for his music, no further songs can exist, making less money.
From the above, the issue of copyrights or intellectual property right can be really controversial. Yet, what we simply need to be careful is not to abuse goods produced by the creators without authorization for making money. The good example of this situation is ‘fake Disneyland’ which is an amusement park in China, where they open the park without getting permission to use characters. I do not think this should be allowed in the world. Therefore, whether or not these rights have to be applied is a never ending problem.