He also implies that PIPA will generate jobs in the industries most troubled by piracy
Even assuming arguendo that it would, it won't be a net win. Today, the pirates are spending money on other things; it's not like they're just burning the money that they would have spent on Content. So any money that begins to flow into the Content industry would necessarily come at the expense of some other industry.
There's no net gain, other than what's probably a tiny bit from alleviating the allocation inefficiency.
Even assuming arguendo that it would, it won't be a net win. Today, the pirates are spending money on other things; it's not like they're just burning the money that they would have spent on Content. So any money that begins to flow into the Content industry would necessarily come at the expense of some other industry.
There's no net gain, other than what's probably a tiny bit from alleviating the allocation inefficiency.