“What I have a hard time with is the idea that buying an LP in 1970 gives you a use right to the material 37 years later after the original LP has been worn out for years.”
Well I don’t have a hard time with it. Was there a time limit expressed or implied? Perhaps impled, given the useful life of the medium back then. But what if I took exceptional care of my LPs, like some of those fancy stereo college guys did, preening and cleaning and never, ever letting anyone else operate the turntable. Would the license expire on any given date. No.
“You have always been able to make one copy of your CD”. Right. So if I make one digital copy of my CD and store it on my computer, which I use as a jukebox, then why should I be culpable if someone else copies it. Is there some theory that I have an obligation to protect the record company’s interest?
I would say the licence expires with the physical life of the item. If you buy something digital or that can be made into a legal use digital copy then you have something with a very long lifespan. In that case good for you and use it to your hearts content. If you take care of something it lasts longer. That is true of anything. Again, how would you have exploited your use right in 1981 as I asked before?
“So if I make one digital copy of my CD and store it on my computer, which I use as a jukebox, then why should I be culpable if someone else copies it.”
As long as you were not complicit, you would would not be at fault.
“Is there some theory that I have an obligation to protect the record company’s interest?”
No. And there is no reason to complain when the record company tries to protect its interest