This well done video by Nina Paley makes a good point.
I originally read this on Freakonomics.
I think that copying leading to lower prices which is good for the consumer but bad for the producer. I think copying destroys incentives to produce. Furthermore, I think that a prisoner's dilema arises. Why should I produce when I can do nothing a copy a rival's? Thus, less is made. I believe that intellectual property should be protected.
It is also true that viewing other's work is also inspiring to me and enriching. I have learned much practicing the work of Chinese painters that I can apply to my own work. Much of what I have copied doesn't look like the original work either. But copying a CD or DVD or a book is different. I believe that in the case of a book, my intent was to steal.