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Home Publications Blogs Beat the Press Huffington Post Notices that Patents Slow Growth

Huffington Post Notices that Patents Slow Growth

Wednesday, 06 February 2013 07:47

The Huffington Post reported on a recent paper published by the St. Louis Federal Reserve Bank that produced evidence showing that patents impede innovation and growth. Maybe other news outlets will be allowed to talk about such isssues one day.

Comments (3)Add Comment
written by bailey, February 06, 2013 11:13
Not nearly enough applause! Thanks for speaking for way too many of us.
HP is slow ...
written by David, February 06, 2013 7:07
The Atlantic (Sept. 27, 2012): http://www.theatlantic.com/bus...em/262913/

WAPO [Wonkblog]: http://www.washingtonpost.com/...t-patents/

The first sentence of the paper that started it all (Boldrin and Levine, published by the St. L. Fed):
The case against patents can be summarized briefly: there is no empirical evidence that they serve to increase innovation and productivity, unless the latter is identified with the number of patents awarded – which, as evidence shows, has no correlation with measured productivity.

I wonder ...
written by David, February 07, 2013 8:51
... why this topic gets so little interest? It's maddening. Amongst my coworkers (scientists) it's considered common sense that of course patents encourage innovation and protect the small inventor. Maybe back in Jefferson's day, the agrarian society. But in this era of corporatism, the patent system is a weapon of mass destruction of innovation and lost economic development.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.