"When the legal regime governing intellectual property rights is designed poorly, it facilitates rent-seeking [...] And the result is that there is actually less innovation and more inequality. Indeed, one of the important insights of Robert W. Fogel, a Nobel Prize-winning economic historian who died last month, was that a synergy between improved health and technology accounts for a good part of the explosive economic growth since the 19th century. So it stands to reason that intellectual property regimes that create monopoly rents that impede access to health both create inequality and hamper growth more generally."
Posted on: Thu, 18 Jul 2013 20:37:25 +0000
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