Patents create an artificial market for ideas, but ideas are infinite

Mike Masnik at TechDirt has a great post titled “If Resources Aren’t Scarce, Why Do You Need A Market?” and he is countering the arguments in the comments very nicely. It is a really fascinating conversation. With the acceleration of innovation aided by technology, there really is no place for patents. Patents create an artificial market for ideas. But ideas are not a scarce resource, so there does not need to be a market for them in the form of a patent system. I’m not sure why he has not included this in his great series of posts Economics Of Abundance:

Economics Of Abundance Getting Some Well Deserved Attention
The Economics Of Abundance Is Not A Moral Issue
A Lack Of Scarcity Has (Almost) Nothing To Do With Piracy
History Repeats Itself: How The RIAA Is Like 17th Century French Button-Makers
The Importance Of Zero In Destroying The Scarcity Myth Of Economics
The Economics Of Abundance Is Not A Moral Issue
A Lack Of Scarcity Has (Almost) Nothing To Do With Piracy
A Lack Of Scarcity Feeds The Long Tail By Increasing The Pie
Infinity Is Your Friend In Economics
Step One To Embracing A Lack Of Scarcity: Recognize What Market You’re Really In
Why I Hope The RIAA Succeeds
Saying You Can’t Compete With Free Is Saying You Can’t Compete Period
Perhaps It’s Not The Entertainment Industry’s Business Model That’s Outdated
An Economic Explanation For Why DRM Cannot Open Up New Business Model Opportunities
Recognizing That Just About Any Product Is A Bundle Of Scarce And Non-Scarce Goods
Scarcity Isn’t As Scarce As You Might Think
The Grand Unified Theory On The Economics Of Free

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One Response to Patents create an artificial market for ideas, but ideas are infinite

  1. Pingback: n.sputnik » How Kindle Could Have Appealed to Passionate Evangelists

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