Privatization of Knowledge: Did the U.S. Get It Right?

Guido Cozzi and Silvia Galli ()

Working Papers from Business School - Economics, University of Glasgow

Abstract: Brilliant ideas are key to economic growth. They often emerge from scientific discoveries with no immediate commercial value - so rewards may not be aligned to effort. Should basic research be publicly or privately funded? And, to foster innovation and growth, what kinds of discovery should be protected? Post 1980, the US intellectual property institutions facilitated the patentability of basic research. The European and other patenting regimes are slowly changing in the same direction, also encouraged by TRIPs. Did the US choose the better path? We build a Schumpeterian model to re-assess this important turning point.

Keywords: R&D and Growth; Sequential Innovation; Research Tools; Patent Laws; Kremer Mechanism (search for similar items in EconPapers)
JEL-codes: O31 O34 O41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hrm, nep-ino, nep-ipr, nep-pr~, nep-knm and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Privatization of knowledge: Did the U.S. get it right? (2021)
Working Paper: Privatization of Knowledge: Did the U.S. Get It Right? (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:gla:glaewp:2008_01

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