From the Mises blog. Archived comments below.
I pointed out in There’s No Such Thing as a Free Patent that “The conventional defense of the patent system is that it is essential in order to stimulate creativity.” And here, on the widely-read Patently-O Patent Law blog, we have patent attorney Dennis Crouch casually admitting:
Patents are intended to lure potential inventors into the business of innovation. The truth is, however, that very little is known about how patents really drive innovation.
Sigh. See also: