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When Congress updated copyright laws and passed the Digital Millennium Copyright Act (DMCA) in 1998, it ushered an era of investment, innovation and job creation.  In the decade since, companies like Google, YouTube and Twitter have emerged thanks to the Act, but in the process, they have disrupted the business models and revenue streams of traditional media companies (TMCs).  Today, the TMCs are trying to fast-track a couple of bills in the House and Congress to reverse all of that. Through their lobbyists in Washington, D.C., media companies are trying to rewrite the DMCA through two new bills.  The content industry's lobbyists have forged ahead without any input from the technology industry, the one in the Senate is called Protect IP and the one in the House is called E-Parasites.  The E-Parasite law would kill the safe harbors of the DMCA and allow traditional media companies to attack emerging technology companies by cutting off their ability to transact and collect revenue, sort of what happened to Wikileaks, if you will.  This would scare VCs from investing in such tech firms, which in turn would destroy job creation. The technology industry is understandably alarmed by its implications, which include automatic blacklists for any site issued a takedown notice by copyright holders that would extend to payment providers and even search engines.   What is going on and how exactly did we get here?

This is not a recovery. It's a continuing jobs emergency and it demands action.

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In the immediate aftermath of the 2003 invasion, the triumphalist verdict of the mainstream media was that the war had been won; Iraq was assured of a benevolent, democratic future. The Times's writer William Rees-Mogg hymned the victory: "April 9, 2003 was Liberty Day for Iraq … It was achieved by "the engine of global liberation," the United States. "After 24 years of oppression, three wars and three weeks of relentless bombing, Baghdad has emerged from an age of darkness. Yesterday was an historic day of liberation."

A methodology and philosophy of revolution is neither born nor accepted overnight. From the moment it emerges, it is subjected to rigorous tests, opposition, scorn and prejudice. The old guard in any society resents new methods, for old guards wear the decorations and medals won by waging battle in the accepted manner. Often opposition comes not only from the conservatives, who cling to tradition, but also from the extremist militants, who favor neither the old nor the new.

The past few days have seen some very unusual events in New York. You might have heard that, over the weekend, a large contingent of folks started a protest on Wall Street. Using Twitter and other online tools, they started a large sit-in of the south end of Manhattan. The day before that, New York mayor Michael Bloomberg warned that frustrations over the U.S. economic and political situation could boil over into riots. The U.S. has seen its share of robust political protests in recent years, but this feels different. Something is emerging within America that has never happened before: the country has to choose between democracy and capitalism.

About twenty years ago, Professor Nicholas Ashford of MIT came to Washington and testified before Congress in great detail about how and where safety regulations create jobs and make the economy more efficient in avoiding the costs of preventable injuries and disease.