I've always liked the idea of moving to compulsory licensing for patents so we can have things like day-1 generic drugs and an end to IP-squatting, so am definitely interested in further exploring similar mechanisms for copyright. What would it mean for the government to set prices? Works of similar classification may have a wide array of quality and utility, and thus suggest different pricing. Compulsory licensing for patents would not require government pricing, since they could instead mandate a percentage of profits be assigned to the pattentee.

I am skeptical of government bodies having the agility to appropriately respond to market needs in a timely and equitable fashion, since they've done such a bad job with the rules in every other area. This is not to say that it can't or shouldn't be done, but definitely deserves careful consideration. What mechanisms do you imagine might keep such a system functioning healthily?