Definition of patent in Economics

The case against patents  February 6, 2013 – 08:00 pm
but among economists and This is the title of a new paper by Michele Boldrin and David K. Levine which appears in the latest issue (Vol. 27, Issue 1 Winter 2013) of the Journal of Economic Perspectives. Boldrin and Levine argue.
The case against patents can be summarized briefly: there is no empirical evidence that they serve to increase innovation and productivity, unless productivity is identified with the number of patents awarded—which, as evidence shows, has no correlation with measured productivity. Both theory and evidence suggest that while patents can have a partial equilibrium effect of improving incentives to invent, the general equilibrium effect on innovation can be negative. A properly designed patent system might serve to increase innovation at a certain time and place. Unfortunately, the political economy of government-operated patent systems indicates that such systems are susceptible to pressures that cause the ill effects of patents to grow over time. Our preferred policy solution is to abolish patents entirely and to find other legislative instruments, less open to lobbying and rent seeking, to foster innovation when there is clear evidence that laissez-faire undersupplies it. However, if that policy change seems too large to swallow, we discuss in the conclusion

Source: The Dismal Science

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In Defense...continued

But a participatory economy enjoys advantages in managing this trade off compared to capitalism. Most importantly, direct recognition of 'social serviceability' is a more powerful incentive to innovation in a participatory economy, which reduces the magnitude of the trade off since more innovation will occur in a participatory economy than in capitalism for the same speed of adjustments. Secondl... Economy. Forthcoming.
Levy, David. 1991. Book Review: Seeking a Third Way. Dollars and Sense 171 November 1991: 18-20.
Pramas, Jason. 1991. A Roundtable on Participatory Economics. Z Magazine July/August 1991: 73-74.
Weisskopf, Thomas. 1992. Toward a Socialism for the Future in the Wake of the Demise of the Socialism of the Past. Review of Radical Political Economics 24 (3&4).

In Defense of Participatory Economics

In Defense of Participatory Economics
by Robin Hahnel, Professor of Economics
American University, Washington DC
In the shadow of the collapse of Communism, and very far from the public eye, a debate over what is a desirable economy has rekindled among a few who cannot convince themselves that human beings are not deserving and capable of better than capitalism. In the past de... industries the full social benefits of their innovation will be both realized and spread to all workers and consumers.
The faster the adjustments are made, the more efficient and equitable the outcome. On the other hand, the more rapid the adjustments, the less the 'material incentive' to innovate and the greater the incentive to 'ride for free' on the innovations of others. But a partici

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The draft's broad definition of intangibles using a new, two-pronged test. The potentially controversial approach to identifying parties entitled to intangible-related returns. Identifying transactions involving the use or transfer of intangibles …

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