01 Aug

The Economist – Intellectual property: Patents against prosperity

At a time when our future affluence depends so heavily on innovation, we have drifted toward a patent regime that not only fails to fulfil its justifying function, to incentivise innovation, but actively impedes innovation. We rarely directly confront the effects of this immense waste of resources and brainpower and the attendant retardation of the pace of discovery, but it affect us all the same. It makes us all poorer and helps keep us stuck in the great stagnation.

via The Economist – Intellectual property: Patents against prosperity. Yet another in a long line of articles decrying the patent system.