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Some people seem be talking this one around in circles. Competition is a crap arguement because a company producing games ultimately can not compete with a pirate, because one places value on the contents of the disc/book etc and the other doesn't. Could games be cheaper, i live in Australia so you don't even need to point this out to me. But even in the end if Nintendo sold their games for 40 dollars, cost of the media plus paying their artists, programmers, advertising etc they still can't compete with a pirate who copies the game and has to pay for nothing other than the disc and distribution

People are saying piracy isn't theft because you are not taking the disc. We are not talking about the value of the disc or the paper or whatever medium it happens to be on, that is negligable. There is a value placed on the intellectual property contained therein and if you don't place value on that then you have no business, playing the game, listening to the song or reading the book.