Nobel Prize Winners Continue To Explain How IP Hurts Innovation
from the time-for-a-change dept
We’ve discussed multiple times in the past about how economics Nobel laureate Joseph Stiglitz believes that patents hurt innovation. Michael Geist points us to Stiglitz’s latest speech, where he teamed up with John Sulston, a 2002 Nobel Laureate in Physiology/Medicine, to point out how the patent system is stifling innovation. It’s great to see Stiglitz continue to point out the problems caused by the patent system (and great to see other Nobel winners noticing as well). While Stiglitz has normally focused on pharmaceutical patents, in this speech he also touched on software patents. While Stiglitz hasn’t yet come around to believing that patents should be abandoned, he is quite convinced that they’re doing plenty of harm in many cases, often locking up innovation and costing society a lot more than they benefit it.