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Against Monopoly

defending the right to innovate

Monopoly corrupts. Absolute monopoly corrupts absolutely.





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Banks' political power, bad; but their business-method patents okay?

Felix Salmon link here goes after Andrew Ross Sorkin for his attack in the New York Times on the banks that successfully used their lobbying power to get Congress to exempt them from business-method patents link here. Sorkin's beef is that the banks have enormous political power, based on their political contributions, while defending such patents as having been successfully blessed by our courts.

Salmon agrees that the banks have great political power but emphasizes the whole questionable field of business-method patents and comes out opposed. More broadly, he objects that we have too many questionable patents and way too much litigation that drives up costs, while adding no benefit to consumers.

It is nice to have another blogger on this side of the argument. More and more are joining the chorus.


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