The EFF's recommended economics of file-sharing - a Pigouvian tax; or, as they call it 'Voluntary Collective Licensing of Music File Sharing'.
Great for consumers, terrible for publishers(record labels), and - crucially - artists. I wrote a paper about this in b-school; it was actually my first thought when the replication wars broke out - 'why not create an ASCAP/BMI for file-sharing?'
The problem is that, from an incumbent's pov, the economics are less attractive than that of any other
solution - even the current one. Think about how ASCAP and BMI haven't exactly encouraged a flourishing songwriting industry - the gains to licensing are simply too small, even if they're redistributed efficiently. As a consequence, we don't see massive entry into the songwriting business. I think the EFF is incredibly cool, but from a strategic pov, I'd be surprised if this is the industry economics that emerges.