even libertarian or free marketeers—advocating taxpayer-funded “medical innovation prizes” to supplement or replace the current patent system—e.g., Alex started . Perhaps a progressive-libertarian alliance can force economists/policy makers to take this issue seriously. I think you’ve got the conversation
respect to the recent turmoil need to be reassessed. The Case Against Financial Innovation Comments blaming financial innovations over the last three decades for the financial bubble and subsequent responsibility” as safety nets were shredded, and with monetary and fiscal policy that is biased against maintenance of full employment and adequate growth to
From How Judges, Bureaucrats and Lawyers Put Innovators at Risk In “ Patent Failure; How Judges, Bureaucrats, and Lawyers Put is in the details. The authors readily admit that “In presenting this list of policy ideas, we admit that we really do not know what it will take to substantially improve patent notice. These policy reforms move us in the direction of an effective patent system, but we do not
is worth enumerating many of his proposed partnerships so as to expose his actual policies , and then offer an Austro-libertarian analysis of these partnerships. As we defense services, streetlights). Obama claims these partnerships will promote innovation at a local level through federal funding. Before we can engage in an
It can of course be useful to point out harmful consequences of various policies, if only to engage advocates of same on their own turf. Thus in There’s No provided by startups. More generally, the authors are unable to observe the innovative productivity or financial performance of public firms in an alternative, attention in Bessen and Meurer’s article), the patent system also aims to foster innovation through the disclosure of information about new inventions (in detailed
the article provides insight into Obama’s thinking on economics and the economic policies he would be likely to pursue if he were elected President. The subject of fellow wage earners increase the demand for capital goods and the rate of business innovation and thus bring about improvements in the quantity and quality of the “rich.” But there is absolutely no reason to advocate such a downright fascistic policy. (As I’ve shown, just such a policy has been pursued in Sweden, the model
the global economy. Now that engine has been derailed by the reckless monetary policies of the Fed and by shortsighted financial innovation. When equity bubbles collapse; everybody pays. Demand for goods and
victory—it is time to engage in a deeper economic critique of Obama’s actual policies . Once we see the true effects of his policies and the incentives they If a private company is making losses for whatever reason, it must change and innovate in order to make a profit or it will continually make losses and go out of neither governments nor entrepreneurs have any way of perfectly forecasting the innovations that will take place in the future, there is, however, one enormous and
to destabilize financial markets. Most commentators have endlessly praised the innovative methods that Bernanke and his colleagues are introducing to counter the financial problems. Bernanke is of the view that by means of aggressive monetary policy the credit markets can be normalized. Once credit markets are brought back to — this undermines various bubble activities. The damage from the loose monetary policies of the Fed from January 2001 to June 2004 cannot be undone by trying to fix
across the political spectrum are fretting about the need for a national energy policy, wringing their hands about the apparent un-American-ness of our dependence on our activities and behavior. We use less of some things and more of others, and we innovate. In more concrete terms, we drive less and walk more, and we invest in a solar iPod charger as part of a year-end project this past semester. The list of innovative responses to high gas prices goes on and on. Some of these ideas will work
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.