This is why I've heard the argument (presumably from Stephan Kinsella, who wrote a book against intellectual property) that the patent system is unconstitutional - it is dubious that patents "promote the progress of science and useful arts."
The economist Fritz Machlup did a study in the 1950s on the economics of the patent system in the US and in his conclusion came to: "If we did not have a patent system, it would be irresponsible, on the basis of our present knowledge of its economic consequences, to recommend instituting one."
The economist Fritz Machlup did a study in the 1950s on the economics of the patent system in the US and in his conclusion came to: "If we did not have a patent system, it would be irresponsible, on the basis of our present knowledge of its economic consequences, to recommend instituting one."