chains      "Monopoly corrupts, absolute monopoly corrupts absolutely."

[new version January 22, 2007]
see the newer version January 2, 2008
It is common to argue that intellectual property in the form of copyright and patent is necessary for the innovation and creation of ideas and inventions such as machines, drugs, computer software, books, music, literature and movies. In fact intellectual property is not like ordinary property at all, but constitutes a government grant of a costly and dangerous private monopoly over ideas. We show through theory and example that intellectual monopoly is not necessary for innovation and as a practical matter is damaging to growth, prosperity and liberty.

Credits (pdf)
Chapter 1: Introduction (pdf)
Chapter 2: Creation Under Competition (pdf)
Chapter 3: Innovation Under Competition (pdf)
Chapter 4: The Evil of Intellectual Monopoly (pdf)
Chapter 5: The Devil in Disney (pdf)
Chapter 6: How Competition Works (pdf)
Chapter 7: Defenses of Intellectual Monopoly (pdf)
Chapter 8: Does Intellectual Monopoly Increase Innovation? (pdf)
Chapter 9: The Pharmaceutical Industry (pdf)
Chapter 10: The Bad, the Good, and the Ugly (pdf)
References (pdf)

Chapters 1-10 as a single file (pdf)

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Chapter 1

Chapter 2

Chapter 3

Chapter 4

Chapter 5

Chapter 6

Chapter 7

Chapter 8

Chapter 9

Chapter 10