Quote of the day

06 Jul

All innovation goes through three stages. One possesses unique knowledge and profits from it. Others imitate and share profits. Finally, the knowledge is widely shared and no longer profitable on its own which thereby inspires new knowledge.

~ Stephan Kinsella, a summary of Bastiat’s Economic Harmonies ch.10 para. 35 – 41.

Discussion topic: Do you agree?  What are the implications for patents and copyright?

1 Comment

Posted by on July 6, 2011 in Quote of the day


One Response to Quote of the day

Leave a Reply