On his blog, Sivacracy, NYU professor Siva Vaidhyanathan has linked to a study that shows the p2p does not adversely affect CD sales.

The study, which opens by admitting that "[r]ecent technological and market forces have profoundly impacted the music industry" eventually concludes that this impact does not include a decline in CD sales. Interestingly, the study finds that p2p has lead to a decrease in songs' chart survival.

I believe this insight is just one more example of how p2p is supportive of, not antithetical to, free markets. That songs have a shorter shelf life means p2p has created more competition among artists. That CD sales have not gone down means that everyone is better off.

Daniel Corbett