These guys have an interesting plan to fix the economy. Abolish the US copyright and patent system.
Michael Boldrin and Daniel K. Levine of Washington University in St. Louis are both professors of economics. They say that the US patent and copyright laws are having a negative effect on invention and therefore the US economy. Levine and Boldrin compare the modern US system to medieval trade monopolies. By creating so many laws and expensive patent applications, and punishing people for what they consider really minor infractions, potential inventors and innovators are discouraged from developing.
It's a radical idea, but an interesting one. For anyone out there who understand the law or the economy, could something like this work?
Anyone else have any radical ideas to save the economy?
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