Patents, Prizes, and Subsidies

[@shuso2812]

i hope you guys get great sponsors for your videos. Thanks for spreading good ideas

[@MarginalRevolutionUniversity]

Thanks, Shu So! We're a nonprofit and are supported by private donors. :) -Meg

[@foxglove65]

@@MarginalRevolutionUniversity Incentives matter!

[@Walkabout]

Excellent content and even better delivery!! Such clear, scaffolded and to the point information sharing. This is very helpful for understanding economics.

[@mangeshdeokar3039]

My favorite channel, the way they explain is simply marvellous..Thankyou sir

[@wolflarson71]

Economist's Boldrine and Levine argue in their book on IP that "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."

[@simonsarevski6532]

You can read Kinsella for similar thoughts as well.

[@MidNightStudiosFilms]

Can you sum up their argument?

[@MidNightStudiosFilms]

Simon Sarevski , What is the argument?

[@enricoragusa491]

@@MidNightStudiosFilms kzbin.info/www/bejne/aqCzkpJ_aKiZgtE The Italian think tank I'm part of has streamed a live with Boldrin to address the matter. The live is in Italian; see if you can find subtitles.

[@duthegee]

5:33 haha this fits pretty well with the current events

[@edossafirdisa3067]

plc do on more topics .thank you very much.

[@AnuragShahB]

Did anybody else come here during Covid-19 and were dumbfounded by the Bat and Ebola example? :P

[@keinmensch07]

love your videos ! thank you so much for them :)

[@jordanfarroreyes1994]

I love this channel.

[@oussamaoussama6364]

excellent video

[@omarperezrodriguez1827]

The government should offer a price for the cure of the coronavirus

[@rainmakr9555]

such good content

[@PrinceKumar-hh6yn]

Patent prevents, patent promotes

[@TheGerogero]

I wouldn't be surprised if Tyler Cowen has actually spent a good deal of time thinking about what it would be like to be a bat, haha.

[@panamahub]

What about giving away the patents for free and when someones is making money from it pays the inventor a percentage. I mean instead of pre-payment it would be like post-payment.

[@feynstein1004]

That's literally how the patent works, mate 😂

[@master.ofnone]

If only this guy followed his dream and studied bats more (5:26).

[@mattdouglas8900]

Open source!

[@kingsolomon3332]

Prize to cure Ebola, the US government owns the patent for Ebola...

[@TheArakan94]

This video (and whole idea of government incentives) is built on false premise. Lack of artificial monopoly enforcement doesn't mean there will be less innovation - quite the opposite, actually. Market has all it needs to fuel innovation and will do so far better than government ever can. All that is needed is protection of intellectual property - you can't steal someone's notes and build the product using that.. But you can take the idea and try to develop your own application of it. That takes time though so the inventor has natural monopoly anyway - especially in hi-tech industries. Key is that it is not possible to abuse nor does it distort market like all of the mentioned methods do. The patents brought only damage - they limit competition, enabling companies to abuse the power and the limited competition means there will be less innovation. In fact, it end up in leading company "rationing advancement" - like Intel did in years 2012-2016, offering no substantial improvements (despite having the ability to do so). Why? The only legal competition (with license agreement) had a bad product and was unable to compete. Without patents, we would be a lot better off.

[@ekananda9591]

You have a point. But, just like property right is governments incentive, so patents is. But the the non rivalrous nature of knowledge is more difficult to protect than property right

[@TheArakan94]

@@ekananda9591 property rights have nothing to do with government - they are inherent human rights. Yes, government's job is to protect them, but it's doing incredibly poor job.. Not to mention that average government is actively breaking that right every day - far more often than any criminals. Not sure I understand what you mean with knowledge.. It expands fastest when there's rivalry ;)

[@ekananda9591]

@@TheArakan94 there is no such thing as inherent human rights because human rights are created by governments. In China, you don't have free speech right. In middle ages, people don't have property right because it's all king possession. So that's why it's important to have a good government institution who protect the right of it's citizen.

[@TheArakan94]

@@ekananda9591 Oh no no no. There are definitely inherent human rights.. Also called negative rights. Go into wilderness where you are alone and check what you can do. You can live, speak, move, defend yourself, work (and own products of your work), etc. Those are your natural, inherent human rights. Government (such as the kings) can usurp these rights.. Or it can protect them to some degree. But those rights exist nonetheless.

[@ekananda9591]

@@TheArakan94 consider the fact that many tribe don't have such thing as property right. Indigenous people of australia used to shared everything from meal, land, and even child. Everything is owned by community. Does it sound property right to you? Property right are there as long there are people who protect it.