2019-04-17 Patents Bad

Via @dredmorbius:

“It is a well known fact that modern trade combinations tend strongly toward constancy of process and products, and by their very nature are opposed to new processes and new products originated by independent inventors, and hence tend to restrain competition in the development and sale of patents and patent rights; and consequently tend to discourage independent inventive thought.”

– Vaughan, F. L., Economics of our Patent System, (New York, 1925), quoting the Investor’s Guild on page 63 of Technological trends and national policy, including the social implications of new inventions. June, 1937 by United States. National Resources Committee. Science Committee; Ogburn, William Fielding, 1886-1959

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