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How does piracy affect the global economy?

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Long Nguyen

on 3 December 2012

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Transcript of How does piracy affect the global economy?

Piracy has more effects than just losing money for the person who created the product. It has a chain effect within the economy.
It affects the creator, the people in the middle and then the economy in the end. In terms of media piracy If you download a music album, this already loses the value of that album to the creator and their associates.
E.g. This will cause £10 (that is shared) between the:

- Distributing companies
- Advertising companies
- Manufacturing companies
- Recording companies
- Artist/Music group The people working within those companies lose money:
This leads to companies lacking money to pay their employees.

Then they will struggle to pay all their employees and will be forced to "let people off" in order to survive a business crash.

Then the economy is affected because of us ultimately pirating media. How does piracy affect the global economy? - This also may lead to the artist may end up creating music in the end due to the lack of money and that their music career comes to an end.

- People working within these media companies will lose their jobs.

- Businesses go through a economic crisis

- But who cares, we get free music :D First question - who here has downloaded music?

The answer is everyone.

Second question - who has been asked if they wanted to buy DVDs in their life?

This is one of the problems that is highly difficult to tackle.

You probably have used: utorrent, limewire, online hosting websites that allow downloads

We have all infringed some sort of copyright law and have an input into breaking the law - and therefore costing to the economy.
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