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How Destructive is the Force of Intellectual Property Law? A Libertarian Answer

By Andis Kaulins

Josh Fulton at SmallGovTimes.com "your small government and libertarian news source" in Compulsory licensing in intellectual property writes:

"[I]ntellectual property law is easily one of the most destructive forces in our economy.

Nearly one-fourth of scientists responding to a survey by the American Association for the Advancement of Science, the largest general scientific body in the world, reported that patents were hampering their research.[1] In the European Union, over ?60 billion are wasted every year on research and development of products that are already protected by patent law.[2] An experiment using a virtual world to simulate the effects of the US patent system found that the ?participants were more likely to innovate when there was no intellectual property system at all, or when they could open-source their innovations and share them with people.?[3]

Read the rest here.

Full post as published by LawPundit on August 26, 2010 (boomark / email).