No other industry deals with people being able to copy their product flawlessly and eliminate any scarcity of the final package like music does, which you don't need an education in economics to understand the impact of. There is almost no reason to assume that $0.50 will convert better among people who pirate music now, since those peoples' current price is free. And if you don't think a song is worth $0.99, maybe you should pay more attention to what goes into creating one than just what goes into copying one when it's finished. The scarcity is not in the distribution, it's in the 20+ year process that goes into creating the original mold in the first place. The supply is unlimited because people make it so illegally and without regard for the rights' of content owners or the hard work they put into making products that millions of people enjoy. It's not a practice that should be defended on any level, let alone justified in a debate about free markets. Piracy is lazy and cheap, and that is all.
> No other industry deals with people being able to copy their product flawlessly and eliminate any scarcity of the final package like music does
That's just plain not true. Film, TV, videogames, books, comics and news all fall under this. And I'm sure there's more industries I haven't thought of.
Not saying none of them deals with it, just none of them deals with it in the magnitude or frequency that music does. Most of those things lose some of their original qualities, are harder to find, or take too long to download for the average person to steal them. MP3s get it the worst.
