It's time to abolish patent and copyright law, say two economists at Washington University in St. Louis. They believe the current system discourages innovation and prevents inventions from entering the marketplace.
Professors Michele Boldrin and David K. Levine have published their views in a new book, Against Intellectual Monopoly, from Cambridge University Press.
The authors argue that license fees, regulations and patents are now so misused that they drive up the cost of creation and slow down the rate of diffusion of new ideas.
"From a public policy view, we'd ideally like to eliminate patent and copyright laws altogether," says Levine.
From the article: Abolishing patent and copyright law sounds radical, but two economists at Washington University in St. Louis say it's an idea whose time has come. Michele Boldrin and David K. Levine see innovation as a key to reviving the economy. They believe the current patent/copyright system discourages and prevents inventions from entering the marketplace. The two professors have published their views in a new book, Against Intellectual Monopoly, from Cambridge University Press.
Professors Boldrin and Levine maintain a blog on this topic: www.Againstmonopoly.org
"From a public policy view, we'd ideally like to eliminate patent and copyright laws altogether," says Levine, John H. Biggs Distinguished Professor of Economics. "There's plenty of protection for inventors and plenty of protection and opportunities to make money for creators. It's not that we see this as some sort of charitable act that people are going to invent and create things without earning money. Evidence shows very strongly there are lots of ways to make money without patents and copyright."insert beginning span tag hereLevine and Boldrin point to students being sued for 'pirating' music on the internet and AIDS patients in Africa dying because they cannot afford expensive drugs produced by patent holders as examples of the failure of the current system. Boldrin, the Joseph Gibson Hoyt Distinguished Professor in Arts & Sciences and Chair of the economics department says, "Intellectual property is in fact an intellectual monopoly that hinders rather than helps the competitive free market regime that has delivered wealth and innovation to our doorsteps."
The authors argue that license fees, regulations and patents are now so misused that they drive up the cost of creation and slow down the rate of diffusion of new ideas. Levine explains, "Most patents are not acquired by innovators hoping to protect their innovations from competitors in order to get a short term edge over the rest of the market. Most patents are obtained by large corporations who have built portfolios of patents for defense purposes, to prevent other people from suing them over patent violations."
Boldrin and Levine promote a drastic reform of the patent system in their book. They propose the law should be restored to match the intent of the U.S. Constitution which states: Congress may "promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writing and discoveries."
They call on Congress to reverse the burden of the proof on patent seekers by granting patents only to those capable of proving that:
* their invention has social value
* a patent is not likely to block even more valuable innovations
* the innovation would not be cost-effective absent a patent
The authors acknowledge that such drastic reform is unlikely and outline an incremental approach for Congress to gradually reduce the scope of patents, regulation and licensing.
Nevertheless, their call for changing the system is urgent. The economists compare intellectual monopoly (patents) to medieval trade monopolies which were proven to be economically detrimental. They write, "For centuries, the cause of economic progress has identified with that of free trade. In the decades to come, sustaining economic progress will depend, more and more, on our ability to progressively reduce and eventually eliminate intellectual monopoly."
Tuesday, March 17, 2009
Most Shared: Copyright and Patent Laws Kill Innovation, Hurt Economy
Friday, March 6, 2009
Staying Healthy in a Tough Economy
With the economy in a state of decline, it is difficult for many Americans to afford health care. Visits to doctors are down 10 percent to 15 percent and many individuals are not taking their medicines as prescribed. However, there are certain measures that can be taken to lessen the burden while facing tough economic times.
While many individuals are dealing with cutbacks, it is important that health care remain a top priority, says A. Mark Fendrick, M.D., professor of internal medicine at the University of Michigan Medical School and professor of health management and policy at the U-M School of Public Health.
Approximately one in nine individuals is cutting pills, taking them every other day or doing something the doctor did not recommend. Fendrick says, "Cutting back on health care without consulting your clinician is a very risky decision. It may not only have an impact on your health, but also have a worsening economic consequence that will lead to greater costs down the road when minor health concerns become major health issues."
Fendrick suggests that people continue to follow up with their recommended screenings and immunizations and consult their clinicians before cutting back on health care. Although these preventative measures may cost you now, they are among the most important investments you can make to protect your health and may save you money in the long run.
There are affordable programs available to help individuals facing economic difficulties. Ask your doctor's office or search online for information about decreasing or eliminating the costs of health insurance and prescription medications.
During an economic crisis, individuals with and without insurance tend to use the emergency room as a form of primary care. However, doing so could take a spot from someone who truly needs emergency care, while also compromising your own care.
"You should really think about going to your primary care physician who knows your medical history, coordinates your follow up care and interacts with other doctors to make sure you're getting the highest quality care possible at the lowest cost," says Fendrick.
While the economy is forcing individuals to make difficult choices Fendrick puts it in perspective: "Remember your health is your most important asset, not your money."
Tips for healthy health care spending:
