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Privatization of Knowledge: Did the U.S. Get It Right?

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  • Guido Cozzi
  • Silvia Galli

Abstract

Brilliant ideas are key to economic growth. They often emerge from scientific discoveries with no immediate commercial value - so rewards may not be aligned to effort. Should basic research be publicly or privately funded? And, to foster innovation and growth, what kinds of discovery should be protected? Post 1980, the US intellectual property institutions facilitated the patentability of basic research. The European and other patenting regimes are slowly changing in the same direction, also encouraged by TRIPs. Did the US choose the better path? We build a Schumpeterian model to re-assess this important turning point.

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Bibliographic Info

Paper provided by Business School - Economics, University of Glasgow in its series Working Papers with number 2008_01.

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Handle: RePEc:gla:glaewp:2008_01

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Keywords: R&D and Growth; Sequential Innovation; Research Tools; Patent Laws; Kremer Mechanism;

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  1. Jakob Madsen, 2008. "Semi-endogenous versus Schumpeterian growth models: testing the knowledge production function using international data," Journal of Economic Growth, Springer, vol. 13(1), pages 1-26, March.
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  11. Berman, Eli & Bound, John & Griliches, Zvi, 1994. "Changes in the Demand for Skilled Labor within U.S. Manufacturing: Evidence from the Annual Survey of Manufactures," The Quarterly Journal of Economics, MIT Press, vol. 109(2), pages 367-97, May.
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Cited by:
  1. Tetsugen Haruyama, 2009. "Competitive Innovation with Codified And Tacit Knowledge," Discussion Papers 0905, Graduate School of Economics, Kobe University.
  2. Hans Gersbach & Maik T. Schneider, 2013. "On the Global Supply of Basic Research," CER-ETH Economics working paper series 13/175, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  3. Cozzi, Guido & Galli, Silvia, 2011. "Upstream innovation protection: common law evolution and the dynamics of wage inequality," MPRA Paper 31902, University Library of Munich, Germany.

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