Future readings

%%% Hayek on Patents %%%

"The problem of the prevention of monopoly and the prevention of
competition is raised much more acutely in certain other fields to
which the concept of property has been extended only in recent times.
I am thinking here of the extension of the concept of property to such
rights and privileges as patents for inventions, copyright,
trademarks, and the like. It seems to me beyond doubt that in these
fields a slavish application of the concept of property as it has been
developed for material things has done a great deal to foster the
growth of monopoly and that here drastic reforms may be required if
competition is to be made to work…. Patents, in particular, are
specially interesting from our point of view because they provide so
clear an illustration of how it is necessary in all such instances not
to apply a ready-made formula but to go back to the rationale of the
market system and to decide for each class what the precise rights are
to be which the government ought to protect."

Source: F. A. von Hayek, "'Free' Enterprise and Competitive Order". In
Individualism and Economic Order, Chicago: U. of Chicago Press. 1948.

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