If piracy leads to substantial sales displacement of music in physical format, then its effect on the overall music industry revenues may well still be negative.

FORBES: Music Piracy: Major Studies Conflicted Over Recording Industry Impact

What Mr. Roche leaves out is the enormous impact that outsourcing to China will have on world labor markets, the massive displacement that this will cause, and thus the offsetting negative effect--due to decreases in demand from laid-off workers in other parts of the world--on price deflation in consumer-goods markets.

FORBES: A river runs deep