Set up a torrent tracker, get fined, go to jail.

Join a bank, destroy the economy, profit.

Let's draw out the distinction.

The Pirate Bay guys were criminally prosecuted for....violating (largely obsolete) copyright. Almost no one in finance has been held even civilly liable for vastly more economically damaging actions.

On the one hand, we have damages worth maybe (maybe) a few million. On the other, a few trillion.

On the one hand, innovation and better music is stifled - benefits are foregone. On the other, reform of a broken banking system is stifled - losses are incurred.

That's everything that's wrong with the economy in two sentences: the ongoing inability of today's leaders to deal with 21st century economics.

Finally, when Congress eventually turns to overhaul copyright law again, Samuelson and Wheatland have a final suggestion. "Congress might even want to reconsider whether statutory damages are serving a truly useful purpose in copyright law, given that the rules of evidence about proof of damages and profits are much less rigorous now than they were when statutory damages were first created and given how few other countries have statutory damage regimes."

Worth noting: Both independent bloggers on the web and the Associated Press are in the news this week for asking for appropriate credit for their work when it's excerpted for fair use by online news aggregators. But the web natives frame their argument in terms of respect for the reader and defending the credibility of the information being published, assuming correctly that their businesses will grow if they honor these principles. In contrast, the AP leads with its business argument first, establishing an atmosphere of legal threats and aggrieved arguments about licensing fees with no mention of what readers want, or what respect they have for the very stories they're ostensibly fighting to present. Hijinks ensue.

It was less than two weeks ago when The Pirate Bay implemented a new feature making it easier for site users to post links to torrents on their Facebook profile, so their friends can download those torrents with just a single click.

This morning Facebook decided to put an end to the sharing and blocked not only the feature, but all links to Pirate Bay’s torrents. The ‘Share on Facebook’ button on the TPB torrent download pages doesn’t work anymore, and neither does the Facebook bookmarklet. Manually adding a link to your Facebook messages isn’t allowed either, regardless of the “legality” of the content it’s linking to. Facebook has basically launched a site-wide ban of Pirate Bay torrent URLs.

Until it is, I refuse to feel guilty for downloading and sharing music. Every time I listen to a song, or share it with a friend, I’m doing the labels a favor. One that eventually I should be paid for. Until that day comes, don’t even think about trying to tell me that I’m doing something ethically wrong when it’s considered quite legal, with the labels’ blessing, in China.

One of the people I was hanging around with online back then was Gordy Thompson, who managed internet services at the New York Times. I remember Thompson saying something to the effect of “When a 14 year old kid can blow up your business in his spare time, not because he hates you but because he loves you, then you got a problem.” I think about that conversation a lot these days.

It may be that a lack of library funds, rather than Google, poses the biggest short-term threat to Mr Kahle’s dream. Google covers the cost of scanning libraries’ books. But to get into Mr Kahle’s archive, libraries must either do their own scanning or pay the archive to do it. And, like everyone else, libraries are feeling the financial squeeze at the moment.

But Mr Kahle is taking a very long-term view. Universal online access to all knowledge may not be “a goal that is going to be finished in our lifetime,” says Mr Kahle. “But if you pick a goal far enough out, people can align to it. I am not interested in building an empire. Our idea is to build the future.”

Amazon MP3?

Sharp contrast to #14, possibly?

Brilliant.

JFK/LBJ anybody?

Creative commons founder discusses the read-write culture.