Patents: End Them. Don't Mend Them

Freeman authors David Levine and Michele Boldrin call for an end to patents in thisChristian Science Monitor article. A taste:

[I]ntellectual property does not increase innovation and creation. Extending IP rights may modestly boost the incentive for innovation, but this positive effect is wiped away by the negative effect of creating monopolies. There is simply no evidence that strengthening patent regimes increases innovation or economic productivity. In fact, some evidence shows that increased protection even decreases innovation. The main finding is that making it easier to get patents increases … patenting!