and Game Theory
|"Monopoly corrupts, absolute monopoly corrupts absolutely."|
[this version November 11, 2005]
[see the newer version January 22, 2007]
It is common to argue that intellectual property in the form of copyright and patent is necessary for the innovation and creation of ideas and inventions such as machines, drugs, computer software, books, music, literature and movies. In fact intellectual property is not like ordinary property at all, but constitutes a government grant of a costly and dangerous private monopoly over ideas. We show through theory and example that intellectual monopoly is not neccesary for innovation and as a practical matter is damaging to growth, prosperity and liberty.
Chapter 1: Introduction
Chapter 2: Creation Under Competition
Chapter 3: How Competition Works
Chapter 4: Innovation Without Patents
Chapter 5: The Intellectual Monopoly Apologists
Chapter 6: The Evil of Intellectual Monopoly
Chapter 7: The Devil in Disney
Chapter 8: Does Intellectual Monopoly Increase Innovation?
Chapter 9: The Pharmaceutical Industry
Chapter 10: The Bad, the Good, and the Ugly