Mossoff & Schultz on Economic Benefits of IP Protection
Professor Adam Mossoff and Mark Schultz, Co-Director of Academic Programs of Mason Law's Center for the Protection of Intellectual Property, published an essay in the American Enterprise Institute's TechPolicyDaily.com on the economic benefits of protecting intellectual property rights.
Looking at the bigger picture, the broad sweep of economic history indicates that when it comes to economic prosperity and innovation, the U.S. and a few other nations have been doing something right for the past two centuries. The U.S. and Great Britain led the world into unprecedented prosperity and development through the Industrial Revolution, and the U.S. remains responsible for a vast amount of the innovation and creativity driving global prosperity – from the world’s most successful creative industries to smartphones to life-saving drugs.
This success is due in large part to good institutions, chief among them economic freedom, political liberty, and the rule of law. As economic historians have pointed out, another of those institutions has always been a robust IP system that has secured property rights in innovative technology and creative works under the rule of law.
Intellectual property and economic prosperity: Friends or foes?, TechPolicyDaily.com, August 27, 2014. By Mark Schultz & Adam Mossoff.