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Against Intellectual Monopoly
Manage episode 522453963 series 3704721
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Book: Against Intellectual Monopoly by Boldrin & Levine
This book systematically critiques the modern intellectual property (IP) system, specifically patents and copyrights, arguing that they hinder rather than promote innovation and economic progress. The authors present historical evidence, such as the struggles of James Watt and the success of the pre-patent Cornish steam engine, and contemporary examples like the open-source software movement and the pharmaceutical industry's "me-too" drugs, to support the contention that competition, imitation, and first-mover advantages provide sufficient incentives for creativity. They assert that IP laws often create inefficient monopolies, increase social costs, and are lobbying-driven extensions that primarily benefit large incumbent firms, urging a re-evaluation and eventual abolition of the current system in favor of free-market competition.
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