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Arts and Minds with Anton Howes

Economics Detective Radio

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The Benefits of Patents

Inventors have an incentive to spread the word about their ideas. A patent allows you, especially in the early days, when it's just the sort of privilege that you would apply for and ratherin a kind of right than what you might expect. And so very often the early society surprises a sort of invision, not as necessarily inducements to invent, but inducements to make those inventions public. It's a beter be like purchasing secrets, if you like. The other thing to bear in mind tho, of courseis that both patents and prices have the effect Not just of intensifying this innovation itself; they also make it worth while to reveal information about them.

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