I'm not defending long copyright terms (I think 14 years is plausible). But the answer to your question is "it allows people to invest to create annuities that pay them for decades, and pay their children" Should you be allowed to save money for 50 years and pass it on to kids?https://twitter.com/ee_elephant/status/1124018768286556163 …
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2/ But here's an argument for why 30 years of copyright is better than 5 (or why 50 > 30). I wrote two novels. It took me 2,500 hours. I earn, let's say, $5k/yr from them. Assume that remains flat (it'll fall, of course). With 5 yr copyright my total earnings are $25k. >>
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3/ i.e $10/hr Noting this, I consider writing sequels...but decide against it. But now ponder 30 year copyright. My total earnings are $5k x 30 yrs = $150k. Net present value of $75k, maybe? So $30/hr. At this rate, I can afford to write more novels.
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4/ Now ponder 60 year copyright. Hourly rate goes up again. I won't live long enough to capture all of it ... but the magic of markets means that I can time-shift future income into the present by selling the rights to my novels to some third party.
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5/ So, now, go ask my fans "you've already purchased Morlock's first two novels. Do you prefer a world where they become public domain in 5 years ...but he never writes any more? Or do you prefer a world where they remain $5 each for 50 years ...but he writes 10 more?"
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6/ I suspect that the folks who like my writing would say "yes, 50 year copyright for Morlock!" That's an argument for why long copyright is better than short.
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Replying to @MorlockP
Hey, by that argument, patents should last forever too. Why should people who produce entertainment be more entitled to capitalize on their inventions than people who actually invent useful things?
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I'm not making the argument; I'm merely offering an existence proof that the argument exists (contra someone else who saw NO argument for it) As I said up thread I'm in favor of shorter
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Replying to @MorlockP
Of course there's an argument for it. "I think that I can make more money that way" is always available. Trivial truth..
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