Patents are like fertilizer. Applied wisely and sparingly, they can increase growth. But if you apply too many chemicals, or make patents too strong, then you can leach the land, making growth more difficult.
Alex TabarrokIt would be really great if I discovered a cure for cancer, but it would only be a little bit less great if my neighbor did. So I am pretty happy when my neighbor becomes wealthier, better educated and more innovative. I feel the same about China and India.
Alex TabarrokAmerica has the highest standard of living of any major country in the entire world. To maintain and enhance that standard of living, America should continue to embrace those qualities which have made America great: openness and dynamism. Openness to new technologies, new ideas and new people is America's greatest source of strength.
Alex Tabarrok