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Against Monopoly

defending the right to innovate

IP in the News

Monopoly corrupts. Absolute monopoly corrupts absolutely.





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Bennett is right. IP protection does not spur innovation, it stifles it. The best example is the pharmaceutical industry. Much money that could be spent on research is spent on political contributions and legal fees to extend patents that should have already expired. The ability to protect older products from competition reduces the incentive to create new ones. The ability to extend patents past their originally-intended expiration compounds this "anti-innovation" trend even more.

And when Big Pharma can't extend its patents further, it buys out its competitors. There were dozens of pharmaceutical manufacturers 10 years ago. Now there are only a handful. And that handful is committed to buying out any generic competitors. This is why some drugs that have been around for a decade or more still are priced 10-1,000 times the actual cost of production. There simply is no competition.

IP "protection" is one of the biggest con-games around. It works directly against both innovation and competition.

Economic Populist Forum

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