{"id":21041,"date":"2014-07-08T15:58:57","date_gmt":"2014-07-08T19:58:57","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=21041"},"modified":"2014-07-08T17:23:06","modified_gmt":"2014-07-08T21:23:06","slug":"what-economists-miss-in-the-patent-reform-debate","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/21041\/what-economists-miss-in-the-patent-reform-debate\/","title":{"rendered":"What Economists Miss in the Patent Reform Debate"},"content":{"rendered":"

Following up on our patent reform post<\/a> last week, today’s Wall Street Journal<\/em> includes an interesting viewpoint via letters<\/a> to the editor.\u00a0 Specifically, Paul Adams of Albuquerque, New Mexico notes that while some economists short-sightedly applaud the way in which weakening patent protections and encouraging copying can lower costs in the near-term, they ignore the longer-term incentive to invest and invent that strong patent protections provide:<\/p>\n

It may satisfy economists that allowing copying by large corporations will drive down prices for consumers since there is no other way to compete.\u00a0 But that does enhance technology.\u00a0 In fact, one benefit of the patent system is the pressure on competitors to invent a different and likely better solution, thereby advancing the technology.\u00a0 I have on many occasions assisted competitors in ‘designing around’ a patent creating a new product or service.\u00a0 There are few patents of such broad scope that there is not an alternative.”<\/p><\/blockquote>\n

Opponents of strong patent protections often fancy themselves clear-sighted, dispassionate, economics-based observers, but their positions are more accurately penny-wise but pound-foolish, as Mr. Adams correctly notes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following up on our patent reform post last week, today’s Wall Street Journal includes an interesting viewpoint via letters to the editor.\u00a0 Specifically, Paul Adams of Albuquerque, New Mexico notes that while some economists short-sightedly applaud the way in which weakening patent protections and encouraging copying can lower costs in the near-term, they ignore the […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2871,2872,4544],"class_list":["post-21041","post","type-post","status-publish","format-standard","hentry","category-posts","tag-intellectual-property","tag-ip","tag-patent-reform"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/21041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=21041"}],"version-history":[{"count":2,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/21041\/revisions"}],"predecessor-version":[{"id":21043,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/21041\/revisions\/21043"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=21041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=21041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=21041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}