Topic:

Math

Math

Freakonomics: Piracy Costs the Economy $200 B. a Year? ‘These Figures Were Made Up Out of Thin Air’

illegal_downloading

Anti-piracy rhetoric holds that online piracy is a devastating force on the U.S. economy, responsible for the theft of between $200 billion and $250 billion per year and the loss of 750,000 good American jobs. “These numbers seem truly dire: a $250 billion per year loss would be almost $800 for every man, woman, and child in America. And 750,000 jobs – that’s twice the number of those employed in the entire motion picture industry in 2010,” write the economists over at Freakonomics.

But those numbers are wrong, the authors say, citing a breakdown by the Cato Institute’s Julian Sanchez.  Read More