Nikola Tesla in the U.S. and Guglielmo Marconi in Italy developed the radio
at about the same time. Then how is it Marconi was able to enrich himself
and Tesla died poor? Because Marconi had political connections and,
consequently, ultimately succeeded in obtaining the monopoly patent for the
invention. (There's much more to the story. It's related in Against
Intellectual Monopoly.)
Warm regards, Michael
What solution would you propose? Would having no patent system result in both being rewarded, or neither? And would either have sufficient incentive in the absence of intellectual property?
Dear Steve,
Boldrin and Levine offer much evidence that innovation and competition diminishes in the presence of IP monopoly and is greater in the absence of it.
If you're interested in specifics, read Tucker's discussion of the book Ron sent to all of us.
Warm regards, Michael