Timmy Elsewhere

At the ASI.

It doesn\’t matter where something is invented, wealth comes from the use of it.

4 thoughts on “Timmy Elsewhere”

  1. Terence Kealey’s excellent new book ‘ Sex, Science and Profits’ argues that the main benefit of technological innovation is the potential lead time advantage of being the first innovator – and this provides sufficient (and proper) incentive for competitive institutions to pusue innovation.

    Beyond that (as Tim argues here) the general societal benefit derives from widespread copying .

    He concludes that in _most_ (not all) circumatances, patenting and similar intellectual property rights are overall a bad thing, and tend to stifle innovation.

    In general the book makes lots of interesting arguments about what really stimulates useful innovation.

    ‘Read the whole thing’, as they say…

  2. That’s why i like the idea of a intellectual property value tax, rather like an LVT.

    You set the price someone can buy the right from you and pay say 7% a year for the state protection.

    Works roughly the same as a 20 year patent, but makes it far more likely the patent holder seeks to make use of it rather than block others.

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