We've all heard the MPAA and the RIAA whine, whine, whine about how Internet piracy has basically destroyed the movie/TV/software/music/video game industry--citing famous studies that estimate as much as $200 billion and 750,000 jobs lost in a year. But now the government is stepping in and admitting what many kind of suspected--those studies are often misleading.
A yearlong study on the effects of piracy and counterfeiting on the U.S. economy has led the Government Accountability Office (GAO) to this conclusion: it's difficult, if not impossible, to quantify the economy-wide impact.
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