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Does Intellectual Monopoly Help Innovation?

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Author Info

  • Michele Boldrin

    (Washington University in St. Louis)

  • David K. Levine

    (Washington University in St. Louis)

Abstract

In this paper, we begin our analysis of copyrights and patents by asking: why should creators have the right to control how purchasers make use of an idea or new good? This gives creators a monopoly over the idea. We refer to this right as “intellectual monopoly,†to emphasize that it is this monopoly over all copies of an idea that is controversial, not the right to buy and sell copies. The government does not ordinarily enforce monopolies for producers of other goods. This is because it is widely recognized that monopoly creates many social costs. Intellectual monopoly is no different in this respect. The question we address is whether it also creates social benefits commensurate with these social costs.

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Bibliographic Info

Article provided by De Gruyter in its journal Review of Law & Economics.

Volume (Year): 5 (2009)
Issue (Month): 3 ()
Pages: 2

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Handle: RePEc:bpj:rlecon:v:5:y:2009:i:3:n:2

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Web page: http://www.degruyter.com

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Web: http://www.degruyter.com/view/j/rle

Related research

Keywords: patent; industrial revolution; mercantilism; protectionism;

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References

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  1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
  2. Petra Moser, 2005. "How Do Patent Laws Influence Innovation? Evidence from Nineteenth-Century World's Fairs," American Economic Review, American Economic Association, vol. 95(4), pages 1214-1236, September.
  3. Christine MacLeod & Alessandro Nuvolari, 2006. "Inventive Activities, Patents and Early Industrialization. A Synthesis of Research Issues," DRUID Working Papers 06-28, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  4. Mark A Lemley, 2004. "Ex Ante versus Ex Post Justifications for Intellectual Property," Levine's Working Paper Archive 122247000000000492, David K. Levine.
  5. Adam B. Jaffe & Josh Lerner, 2006. "Innovation and Its Discontents," Capitalism and Society, De Gruyter, vol. 1(3), pages 3.
  6. Michele Boldrin & David K Levine, 2004. "The Economics of Ideas and Intellectual Property," Levine's Working Paper Archive 122247000000000631, David K. Levine.
  7. George Selgin & John Turner, 2006. "James Watt As Intellectual Monopolist: Comment On Boldrin And Levine," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 47(4), pages 1341-1348, November.
  8. Nancy Gallini & Suzanne Scotchmer, 2003. "Intellectual Property: When is it the Best Incentive System?," Levine's Working Paper Archive 618897000000000532, David K. Levine.
  9. Sunil Kanwar & Robert Evenson, 2001. "Does Intellectual Property Protection Spur Technological Change," Working Papers 831, Economic Growth Center, Yale University.
  10. Boldrin,Michele & Levine,David K., 2008. "Against Intellectual Monopoly," Cambridge Books, Cambridge University Press, number 9780521879286.
  11. Michael Kremer, 2001. "Creating Markets for New Vaccines - Part II: Design Issues," NBER Chapters, in: Innovation Policy and the Economy, Volume 1, pages 73-118 National Bureau of Economic Research, Inc.
  12. Mark Schankerman, 1998. "How Valuable is Patent Protection? Estimates by Technology Field," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 77-107, Spring.
  13. Michele Boldrin & David K Levine, 2005. "IP and Market Size," Levine's Working Paper Archive 618897000000000836, David K. Levine.
  14. Michele Boldrin & David K Levine, 2008. "Appropriation and Intellectual Property," Levine's Working Paper Archive 122247000000002262, David K. Levine.
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