Joseph Allen
Nov 15, 2016

Make American Innovation Great Again

Created at Nov 15, 2016, 7:33am PST



The Trump Administration  and the Republican led Congress have a mandate to get this economy moving again and if they want to maintain power they better produce results fast.  To jumpstart the economy we need more than infrastructure projects (seems like we heard about those elusive "shovel ready jobs" somewhere before) -- we need to reignite the fire of American innovation. One of the brakes on our prosperity has been the deliberate undermining of the patent system. This was not imposed by some malevolent foreign power but by internal forces which didn't want to be bothered by pesky patent owners objecting to having their property being taken by their betters.  While American innovation manages to lead the world despite a malfunctioning patent system, imagine what we would do if the intellectual property rights of our inventors were protected as the Founding Fathers intended.

It's a fundamental principal of economics that the secure ownership of personal property is essential for prosperity.  Walk through any public park and see how seldomly people bother to pick up trash thrown so thoughtlessly about by a few. But if someone throws trash on your lawn, it will quickly be made clear that this nonsense better stop, including calling the police if necessary. But what happens when the police won't protect the rights of homeowners?  Neighborhoods deteriorate, crime flourishes and investors move their money to other markets.  That's what's happening to patent owners as "effective infringement" becomes an accepted business practice. However, we've been down this road before and have a good roadmap of the way out.

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