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Economy analysis - Assignment Example

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Summary
Posner” discusses the impact of digital commerce on the publishing industry. He observes that the process the industry is going through is what Joseph Schumpeter called, “creative…
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Economy analysis
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Economy analysis

Download file to see previous pages... People find it more convenient to order books from online vendors than to go out to bookstores to look for books the way they did before the digital revolution. The second point is that in addition to Amazon, there are now many avenues through which people access eBooks, hence the loss of the need to visit libraries. The final point he makes is that copyright laws are lagging behind, since they were developed in an era where the current potential for digitization did not exist. It is important to have a balance between access to published material bearing the cost of production in mind, and to retain the “incentive to create” for writers (Posner).
There are two key strengths in Posner’s article. The article communicates very clearly the relationship between the demise of the bookstores and libraries in relation to the emergence and development of the digital revolution. The issues in it focus on the purchasing behavior of individuals and how the internet is affecting consumer behavior. The second strength of the article is that it identifies the legal problems that existing copyright laws have which will only make the process more difficult to manage. The article argues that there is need for action to update existing laws to make it easier for creators of literature to enjoy more protection because of the increasing cost of policing the internet to prevent online piracy.
The key weakness of the article is that it does not offer any radical solution, but struggles to find a way around the existing problems based on the current laws. It does not pay attention to the fact that it is now almost impossible to stop online piracy by using legal means only. The internet is universal, and it is almost impossible to start developing laws which every country will accept. This is because different countries derive different benefits from the internet hence the laws may impede ...Download file to see next pagesRead More
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