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The Economics of Ideas and Intellectual Property

Michele Boldrin, David K. Levine and Thomas J. Sargent
Proceedings of the National Academy of Sciences of the United States of America
Vol. 102, No. 4 (Jan. 25, 2005), pp. 1252-1256
Stable URL: http://www.jstor.org/stable/3374410
Page Count: 5
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
The Economics of Ideas and Intellectual Property
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Abstract

Innovation and the adoption of new ideas is fundamental to economic progress. Here we examine the underlying economics of the market for ideas. From a positive perspective, we examine how such markets function with and without government intervention. From a normative perspective, we examine the pitfalls of existing institutions, and how they might be improved. We highlight recent research by us and others challenging the notion that government awards of monopoly through patents and copyright are "the way" to provide appropriate incentives for innovation.

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