The gridlock economy
how too much ownership wrecks markets, stops innovation, and costs lives
by Michael Heller, David G. Victor, Thomas C. Heller · first published 2008
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2011–2013first – last mentioned
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Examines the consequences of excessive property rights creating an underuse of resources, addressing such issues as excessive patent rights that inhibit the development of life-saving drugs, real estate practices that lead to a loss of family estates, and copyright laws.
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…are a great illustration of how property rights are not at all static but are continually rejiggered to fit the times. (Perhaps we can expect more tweaks as drones become common?) Michael Heller's book Gridlock Economy [3] has an interesting chapter on how rights to airspace have been adapted to allow for civil aviation. If you're super interested, there is at least one full-length book [4] (which I haven't read) on…
on “Drones With an Eye on the Public Cleared to Fly” ↗…lets people fight over their validity later on. ... Almost half of patents litigated to judgement are invalidated; of those found valid, half are found not to be infringed." [1] 1. Michael Heller, The Gridlock Economy, p. 53
on “The New Web Typography” ↗…overvalue their own contribution since they all hold veto power. This then leads to a gridlock sitution in which technology is underutilized due to prices rising above the price anyone would pay. (see The Gridlock Economy: How Too Much Ownership Wrecks Markets, Stops Innovation, and Costs Lives by Michael Heller) Don't get me wrong, I don't think there should be any royalties on standards, either everyone is forced to…
on “Google inclined to continue FRAND abuse” ↗…Wouldn't it be a wonderful thing if we began to see television ads asks, "Have you been threatened with a lawsuit and strong-armed into paying licensing fees on a patent covering ..." 1. Michael Heller, Gridlock Economy, 2010. 2. http://www.freakonomics.com/2011/07/11/how-patent-trolling-t...
on “Make Patent Trolls Pay All Costs If They Lose” ↗I think you're referring to the theory espoused in the book "Gridlock Economy". It claims too much ownership can stifle innovation: "Private ownership usually creates wealth. But too much ownership has the opposite effect—it creates gridlock. Gridlock is a free market paradox.…
on “White House: What's Blocking Innovation in America? My Answer: IP Laws” ↗…slightly more complex arrangement that didn't require the government to decide who would be funded.) It's worth noting that patents don't only reward inventors, they also increase their costs. The book The Gridlock Economy talks about this, and mentions one biotech firm that thought it had a cure for Alzheimer's. It infringed on thirty patents, and each patent-holder thought it had the most important part and charged accordingly.…
on “Why Chemotherapy That Costs $70,000 in the U.S. Costs $2,500 in India” ↗