The IP referred to by Stiglitz here is about the licensing of monopolies through the granting of patents. He argues that this type of activity amounts to rent-seeking (economic rent). Rent seeking does not in itself create wealth. Instead it adds to the burden of cost in entrepreneurship. Rent-seeking activities, if not controlled, will lead to monopolies of resources needed for economic activities.
When we use the term IP, we are referring to the knowledge base of social-economic architecture and management for sustainable development.
This is our unique contribution to a communal enterprise. It is not a cost factor. It is a provision to be ‘invested’ to create wealth.
— Simon Pang | Society of Antioch’s
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How Intellectual Property Reinforces Inequality
By JOSEPH E. STIGLITZIn the war against inequality, we’ve become so used to…
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Appstar Financial Complaints 