> Sometimes the government allows companies to get a certain amount of rent -- for example, the royalties from patents, which we protect in an attempt to encourage innovation.
This is the classic, maybe the reason given to justify patents. The implication being that no one would bother innovating if patents didn't grant them rent for a time.
But I wonder if the reality is merely that different people, and different kinds of people, would innovate in a patent-free world.
This is the classic, maybe the reason given to justify patents. The implication being that no one would bother innovating if patents didn't grant them rent for a time.
But I wonder if the reality is merely that different people, and different kinds of people, would innovate in a patent-free world.