Prizes, not patents

  • Patents are based on restricting use of knowledge
  • Patents grant temporary monopoly power
  • Patents make new medications more expensive because the drug makers need to recoup their costs
    • ::Do patents make other new things more expensive?::
  • Governments already pay cost of developing drug indirectly through prescriptions
  • Prize fund wouldn’t replan patents, just In areas where what’s needed is well known

    Published

    2007

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    Authors

  • Joseph Stiglitz

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