Makes for some interesting reading. It is a work in progress.
Arstechnica wrote in a thoughtful response about it:
...a pair of academic researchers happily point out in a working paper they've posted online, copyright law was never meant to protect the music business in the first place—instead, it is intended to foster creative production in the arts, which happen to include music. As such, they argue it's worth analyzing the deeper question of whether file sharing is putting a damper on music creation. Their conclusion is that this is a much more complicated question, but the answer seems to be "probably not."
Going to read on now.