Earlier quoted context omitted.
You're not being logical, you're just parroting anti-anti-copying propaganda. > If the 12 yr old pirates $17,000 (retail price) of music, this does not mean the record companies are out $17,000... 12 yr olds don't have $17,000 to spend even if they are prevented from pirating. Right, but it does not mean that the record companies are out $0 either. They are probably missing out on at least several hundred dollars wor…
Actually, it's more subtle than that. For the vast majority of ordinary people, entertainment dollars are fixed. People have what they have to spend on entertainment, and when it's gone that month, it's gone. What happens is the various content producers compete for their share of those dollars. There just aren't billions out there for entertainment purposes. Wages being flat in the US speaks right to that. People do…
But even assuming it's true, piracy would still hurt individual companies or even entire industries. Industries you can't pirate so easily would see a disproportionate share of the spending.
DRM would still be very important. People would pirate the stuff that is easy to pirate, and buy the DRM stuff.