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November 25, 2003

On the web, and from a few months back, Douglas Clement asks whether innovation requires intellectual property rights and, along the way, provides a good primer on the economics behind WSIS's IP debates.

Clement talks to Michele Boldrin and David K. Levine who argue in a much-talked about paper that patents and copyrights create "intellectual monopolies" which, like any other monopoly, leave us all worse off in the long-run.

According to Clement, Boldrin and Levine have made a "formidable assault on the conventional wisdom about innovation and the need to protect intellectual property."

"The reaction for now is surprise and disbelief," Boldrin admits. "We'll see. In these kinds of things, the relevance is always if people find the suggestion interesting enough that it's worth pushing farther the research. All we have made is a simple theoretical point."

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