A critical review of against intellectual monopoly

A critical review of against intellectual monopoly Rev Austrian Econ (2011) 24:81–84 DOI 10.1007/s11138-010-0127-z John Kennedy Published online: 6 October 2010 The Author(s) 2010. This article is published with open access at Springerlink.com Against Intellectual Monopoly, by Michele Boldrin and David Levine (2007), is a coherent, well-written, and persuasive argument against strong forms of government protection of intellectual property rights. The authors contend that intellectual property rights do not generally promote social welfare, that intellectual property protection generates perverse distributional outcomes, and that firms do not respond to greater levels of protection of intellectual property protection by actually producing more innovation or, if they do, such additional creation is not socially optimal. Although generally quite sound, the book is not without problems; its normative judgments of drug companies are wildly overstated, and the first-mover argument does not adequately address the virtually instantaneous availability of many copyrighted goods online. The book is not written from an Austrian perspective per se, but does extend the logic of the benefits of competitive markets to non-physical goods, and draws conclusions that libertarians are likely to welcome. The authors hold that major technological progress occurs more or less spontane- ously as a result of individuals making incremental changes to improve products http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

A critical review of against intellectual monopoly

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Publisher
Springer US
Copyright
Copyright © 2010 by The Author(s)
Subject
Economics; Public Finance; Political Science; History of Economic Thought/Methodology
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1007/s11138-010-0127-z
Publisher site
See Article on Publisher Site

Abstract

Rev Austrian Econ (2011) 24:81–84 DOI 10.1007/s11138-010-0127-z John Kennedy Published online: 6 October 2010 The Author(s) 2010. This article is published with open access at Springerlink.com Against Intellectual Monopoly, by Michele Boldrin and David Levine (2007), is a coherent, well-written, and persuasive argument against strong forms of government protection of intellectual property rights. The authors contend that intellectual property rights do not generally promote social welfare, that intellectual property protection generates perverse distributional outcomes, and that firms do not respond to greater levels of protection of intellectual property protection by actually producing more innovation or, if they do, such additional creation is not socially optimal. Although generally quite sound, the book is not without problems; its normative judgments of drug companies are wildly overstated, and the first-mover argument does not adequately address the virtually instantaneous availability of many copyrighted goods online. The book is not written from an Austrian perspective per se, but does extend the logic of the benefits of competitive markets to non-physical goods, and draws conclusions that libertarians are likely to welcome. The authors hold that major technological progress occurs more or less spontane- ously as a result of individuals making incremental changes to improve products

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Oct 6, 2010

References

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