Fred Von Lohmann of EFF has a column in the Daily Princetonian about compulsory licensing. The idea is your ISP could charge a flat monthly fee so that both record companies, as well as artists, would be paid directly. Fees would be divided based on samplings of traffic and sharing similar to Nielsen ratings.
"The reality is that file-sharing is almost certainly going to remain a fact of campus life. The debate should be about getting artists and copyright owners fairly compensated, not about how many students should be expelled or how to install surveillance equipment on campus networks."