Stephan Kinsella - Intellectual Property - Episode #1
"YOUR WELCOME" with Michael Malice
00:00
Is It the Job of the Government to Lower the Costs of Competition?
The idea that someone can copy your formula right away doesn't mean you're instantly going to have equal competition. The FDA process in the US, which slows down the rate of innovation greatly asks for the cost. So the federal government comes in and hampers the pharmaceutical innovators. And then to make up for that, it gives them a patent monopoly so they can maybe make some of it back.
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