Table of Contents

Individualism and Collectiveness in Intellectual Property Law

Individualism and Collectiveness in Intellectual Property Law

ATRIP Intellectual Property series

Edited by Jan Rosén

Individualism and Collectiveness in Intellectual Property Law embraces fundamental, eternal and yet very contemporary elements in IP law dealt with in all parts of the world. There are certain classic values embedded in the protection of human effort and the creativeness of individuals. This book examines the relationship of those values to the questions inherent both in individual creativeness in a collective setting, and in the tendency to build national, regional or global monopolies based on IP rights. The respect for original ownership, the occasional need for collective management of IP rights, the idiosyncrasies of co-ownership of rights and the ever present tension to be found in encounters between exploitation of IP rights and competition law are extensively exposed in this book.

Chapter 2: The Law and Economics of Progress: IP Rights and Competition Policy

Rudolph J.R. Peritz

Subjects: law - academic, intellectual property law

Extract

Rudolph J.R. Peritz INTRODUCTION 1. The New York Times and other respected voices of the press have been observing that the economics profession is in turmoil after its failure to predict the Great Recession that still threatens us. Indeed, it was modern economics’ overconfidence in its algorithmic routines and its faith in free market abstractions that drove the collapse in financial markets and its aftermath by enchanting the judgment of players from hedge fund strategists to investors to regulatory agency officials. But unpredicted financial panics and recessions are nothing new, of course. And economics has long been a troubled enterprise, aspiring to the heights of mathematics to escape its historical roots in moral philosophy and to avoid a behavioralist future as a branch of social psychology. Like the commerce it scrutinizes, modern economic analysis can itself be described as cyclical, with episodic developments, bubbles, panics, inflations, depressions, and recessions, all neatly plotted by the criticisms of esteemed practitioners from John Maynard Keynes and John Kenneth Galbraith to Nobel Laureates Amartya Sen and George Stiglitz, and Paul Krugman just two years ago. It should come as no surprise, then, that there has long been trouble brewing in the IP economics that prevails in the United States. (By the way, my references in this chapter to IP are intended as a shorthand for only patent and copyright.) Given economics’ powerful influence on public policy, the trouble has spilled into IP jurisprudence as well. The trouble with IP economics recently reached its boiling...

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