The economics of information is a relatively new thing I am currently studying. One interesting quote is from Boyle (1996, p.38 as cited in Dempsey, 1999, p.33): [Incentive] analysis largely ignores the opposite perspective, that of the free flow of information. If we switch the perspective, we can see that one important purpose of [intellectual property] law is to make sure that future creators have available to them an adequate supply of raw materials. From this perspective, too many ‘incentives’ could convert the public domain into a fallow landscape of private plots.
Basically, we are pretty used to thinking that information is a public good, and hence to protect the profit incentives of firms investing to create information, governments put intellectual property laws in place. I will update this more later on.
1 comment:
although i understand very little of the concepts and have to read and re-read each sentence, i feel a little bit more intellectual for it! hooray :):)
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