A pair of NYT editorials explore alternatives to mass lawsuits against peer-to-peer filesharers and harmful legislation like the Induce Act:

Don't Beat Them, Join Them
By WILLIAM FISHER
The record industry's response to file sharing -- trying to block the technology altogether -- will generate the worst of all possible results.
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Share the Music
By KEMBREW McLEOD
A blanket license model, like that legalizing the use of copyrighted material by cable television, can point us to a future system that might work for file sharing.

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