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| Author: | Boldrin, M. Levine, D.K. |
| Title: | 2003 Lawrence R. Klein lecture: The case against intellectual monopoly |
| Journal: | International Economic Review
2004 : MAY, VOL. 45:2, p. 327-350 |
| Index terms: | Innovation Intellectual capital Monopoly |
| Language: | eng |
| Abstract: | Monopoly has a crucial role both as a cause and an effect of innovation in the modern theory of growth. Innovative companies, argues the author, would have insufficient incentive to innovate should be prospect of monopoly power not be present. This theme of monopoly runs throughout the theory of growth, international trade, and industrial organization. The authors argue that monopoly is neither needed for, nor a necessary consequence of innovation. |
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