[Irtalk] The True Story of How the Patent Bar Captured a Court and Shrank the Intellectual Commons | Cato Unbound

[Hilton Gibson]

As a result of the Federal Circuit’s pro-patent jurisprudence, our economy
has been flooded with patents that would otherwise not have been granted. *If
more patents meant more innovation, then we would now be witnessing a
spectacular economic boom. Instead, we have been living through what Tyler
Cowen has called a Great Stagnation. *The fact that patents have increased
while growth has not is known in the literature as the “patent puzzle.” As
Michele Boldrin and David Levine put it, “there is no empirical evidence
that [patents] serve to increase innovation and productivity, unless
productivity is identified with the number of patents awarded—which, as
evidence shows, has no correlation with measured productivity.”

http://www.cato-unbound.org/2014/09/08/eli-dourado/true-story-how-patent-bar-captured-court-shrank-intellectual-commons
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