Tragedy of the Commons
HT to Bleeding Heart Libertarians for alerting me to this video.
The Tragedy of the Commons is a well known problem in Economics, but is widely misunderstood by the general public. This video does a nice job of explaining the core conundrum. However, I take exception to one of Prof Anomaly's points.
I don't believe in Intellectual Property Rights as discussed in this video. Simply put, I don't believe Ideas are property that needs to be protected. Innovation is all about Implementation, not just the idea. If you don't implement you have no claim.
History if rife with examples of great ideas, which were published and freely available, which furthered society through implementation by others. The polio vaccine, for example. Or x-ray technology. Or electrical generation. The list goes on. We would have had a very different outcome if any of these ideas were patent protected.
One easy way to do away with the patent trolls that the Professor abhors is to do away with the patent system. Government granted monopolies are only benefit a few, to the detriment of the many. There will still be lots of ways for inventors and innovators to get wealthy by implementing innovations that people will exchange good money for. It is the implementation, the delivery of product to the marketplace which should create wealth - not the ownership of an idea.