Decreasing Piracy Stimulates Economy

A recent study released by the Business Software Alliance (BSA) solidifies the argument that reducing software piracy boosts economic growth. The study included 42 countries which own 93 percent of the world’s PC software currently in use. Click HERE to view the original pdf file of BSA’s publication. You can also click HERE for the study in brief.
In the study it states that the faster we reduce piracy, the greater the economic impact the reduction will have. An example given in the study goes as follows: if you were to reduce the piracy rate in the US by 10 percentage points in two years it would add more than $52 billion to the country’s GDP by 2013. It would also boost US tax revenues by more than $8 billion.
The International Data Corporation (IDC) says that lowering piracy by 10 points, on average, per country in four years will deliver many benefits, such as, 500,000 new high-tech jobs, more than $142 billion in new spending, and around $32 billion in new tax revenues.
The BSA gives an outline on reducing software piracy:
1.      Increase Public education & awareness
2.      Implement the WIPO Copyright Treaty
3.      Create Strong and Workable Enforcement Mechanisms as Required by TRIPS (Strong copyright laws are essential)
4.      Step up enforcement
5.      Lead by example (governments actively managing their own software assets and sending a clear message that they will not tolerate piracy)
The downside of software is the more it grows the more it infringes on intellectual property (IP) protection. If we do not protect IP then incentives for technological innovation fades away. If we protect IP then technology will accelerate and thus the economy will continue to move forward. 
We all want a better economy. So why wouldn’t we want to reduce piracy? Take action in your own lives and buy your software, don’t rely on that friend to let you “borrow” their version.