06/14/2010 05:12 am ET Updated May 25, 2011

Estimates For Piracy Losses Are Unsubstantiated Government Says

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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