Innovation is important; it has transformed the lives of everyone in the world. And intellectual property laws can and should play a role in stimulating innovation. However, the contention that stronger intellectual property rights always boost economic performance is not in general correct. It is an example of how special interests-those who benefit from stronger intellectual property rights-use simplistic ideology to advance their causes.
Joseph StiglitzRelated topics
advance benefit boost correct everyone example general ideology innovation intellectual lives play property should world lawsRelated quotes
By that time a structure of property rights had developed in the Netherlands and England which provided the incentives necessary for sustained growth. These included the inducements required to encourage innovation and the consequent industrialization. The industrial revolution was not the source of modern economic growth. It was the outcome of raising the private rate of return on developing new techniques and applying them to the production process.
Douglass North
Every technology goes through three stages: first a crudely simple and quite unsatisfactory gadget; second, an enormously complicated group of gadgets designed to overcome the shortcomings of the original and achieving thereby somewhat satisfactory performance through extremely complex compromise; third, a final stage of smooth simplicity and efficient performance based on correct understanding of natural laws and proper design therefrom.
Robert A. Heinlein
We can get some idea of a whole from a part, but never knowledge or exact opinion. Special histories therefore contribute very little to the knowledge of the whole and conviction of its truth. It is only indeed by study of the interconnexion of all the particulars, their resemblances and differences, that we are enabled at least to make a general survey, and thus derive both benefit and pleasure from history.
Polybius
Global economic competition is a game of unequal players ... Consequently, it is only fair that we 'tilt the playing field' in favour of the weaker countries. In practice, this means allowing them to protect and subsidize their producers more vigorously and to put stricter regulations on foreign investment. These countries should also be allowed to protect intellectual property rights less stringently so that they can more actively 'borrow' ideas from more advanced countries.
Ha-Joon Chang
There is no economic policy. That's really important to say. The general modus operandi of the Bushies is that they don't make policies to deal with problems. They use problems to justify things they wanted to do anyway. So there is no policy to deal with the lack of jobs. There really isn't even a policy to deal with terrorism. It's all about how can we spin what's happening out there to do what we want to do.
Paul Krugman
