Yes, it's stupid.
But corporate interests generally favor longer copyright terms as well. Disney fears the day that Mickey Mouse enters the public domain, and that's why the US Congress passed a huge copyright extension bill not all that long ago. Film makers, record producers, publishers and authors alike all want longer terms. To shorten the term would be to transfer money from the haves to the have-nots -- not the other way around.
Personally, I'm generally in favor of somewhat shorter terms, though 14 years is ridiculous. The purpose of copyright is to encourage artists to do what they do and create stuff, and I don't think that any artist is less likely to create stuff if, for example, he knows that the copyright will expire 50 years after his death rather than 75 years after his death.
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