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Where is right or wrong or justice? | 113 comments | Create New Account

Comments belong to whoever posts them. Please notify us of inappropriate comments.

Where is right or wrong or justice?

Authored by: Anonymous on Friday, June 28 2013 @ 12:58 AM EDT

Patents may not be economic devices, but they do have an economic effect:

* They increase the price of goods and so add to the GDP of a country;
* They reduce the spending power of households in terms of the different goods
they can buy;
* They are a [government backed] monopoly device to create [temporary (sic)]
monopolies which have an effect on supply and demand, and prices.

I would be surprised if patents were not mentioned in an economics course
somewhere, even in an introductory course (in fact, patents /are/ mentioned in
my "Management within the economic environment" unit, which is a broad
overview of Micro- and Macro- Economics, of the course I have just done).

cm

[ Reply to This | Parent | # ]

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