Bit of a self plug today. Here is a link to my recently published article in the William Mitchell College of Law Intellectual Property Research Series.
The premise of the article is that the music industry should allow music to be rented again as it was back before the passage of the Record Rental Amendment of 1984. My thesis is that the music industry really missed the boat just as they missed the boat on digital distribution. The music industry of course has legitimate concerns about piracy, etc. but in looking at the history of the rented media it is interesting to note that the movie industry fought movie rentals extremely hard when it ended up becoming an important revenue stream for them. Jack Valenti famously compared movie rentals to Jack the Ripper for the movie studios. This article argues that the music industry's fears were equally misplaced.