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Economists Argue Patent System Should Be Abolished

Posted by Unknown on from the cold-war dept.

nukem996 writes "Two economists at the St. Louis Federal Reserve have published a paper arguing that the American patent system should be abolished. The paper recognizes the harm the current patent system has caused not only to the technology sector but the health sector as well."

6 of 376 comments (clear)

  1. Been saying that... by MitchDev · · Score: 5, Insightful

    For years, but ain;t gonna happen. The big corps will buy the senators and reps to make sure it NEVER happens.

  2. Furthering class warfare by fascismforthepeople · · Score: 5, Insightful

    The patent system, for as much as it gets bad press, offers the little guy (independent inventor) a chance to get ahead. With no patents, anyone with money can make a clone of an existing product and do whatever they want with it, including selling their clone as the original item. Such a patent-less system undoubtedly favors the wealthy who have access to the means to do such things.

    And when you accelerate the acquisition of power, you encourage oppression in the name of profit. This leads directly to fascism for the people.

    1. Re:Furthering class warfare by MickyTheIdiot · · Score: 5, Insightful

      This might be true in a society where the corporate elite can use the court system as a weapon.

    2. Re:Furthering class warfare by h4rr4r · · Score: 5, Insightful

      At one time it did that, now it does not.

      Go pantent something as the little guy, they big boys will then patent every use of your thing they can think of or tie you up in court until you are bankrupt.

  3. Re:Been saying that...Wrong, Simply Wrong. by SerpentMage · · Score: 5, Insightful

    Interesting, I do hope you realize that what you are reading, and what you using as a medium to communicate did come from the government. Please check your facts... Thank-you and don't let the door hit you on the way out.

    --

    "You can't make a race horse of a pig"
    "No," said Samuel, "but you can make very fast pig"
  4. Re:Been saying that...Wrong, Simply Wrong. by citizenr · · Score: 5, Insightful

    Wrong, wrong, wrong. You are obviously not in the medical business.

    No CAT Scan, MRI or Cancer drugs would have been invented without patents to give the inventors time to make their years of investment back by a period of exclusivity.

    Dont forget aqueduct, sanitation, roads, irrigation, medicine, education, health! Would never happen without patents.

    Oh, did I mention Shakespeare would not write anything without Strong Copyrights?

    --
    Who logs in to gdm? Not I, said the duck.