Earlier quoted context omitted.
Well, I've heard that in Britain, IP is considered an inherent right just like personal property. If I own the result of my own physical labor, why wouldn't I own the result of intellectual labor as well?
Because if you physically make something and it's taken from you, you no longer have it. Information can't be taken from you - granted, a medium on which it's stored could be, but again, that would be a physical, not an intellectual loss. You can't be deprived of the knowledge that allowed you to create the item in the first place. Unless, of course, somebody else is granted the intellectual property rights to it.
Currently, most people who care cling to two extremes: one group sees intellectual property as physical property, and think 'theft' should be punished as physical property theft. The other group thinks that 'intellectual property' is imaginary, because the cost of copying is near-zero and copying does not take away information from the original owner.
Obviously, the first extreme is completely unacceptable. Suppose (for the sake of the argument) that someone invented a copier tomorrow that could copy any physical object. That would be a tremendous win for humanity. However, the 'intellectual property'-crowd would come in and insist that people pay nearly the same price for the copy as the original (as happens today with books, movies, and music). On the other hand, there should be some financial incentive to produce intellectual artifacts.