Intellectual Property & Stealing Future Profits (30m) – Editor’s Break 115

Editor’s Break 115 has Skyler giving his commentary on the following topics: resources and scarcity; the purpose of property rights; ideas as patterns of information; the attempt to apply property rights to non-scarce ideas in the forms of copyright and patent; why intellectual property makes everyone a thief; how intellectual property rights necessarily violate material property rights; the argument that copying ideas is to steal future profits; and more.

Battling Assumptions

In the first case, I am reflecting on a book that I am reading; The Truth Machine: The Blockchain and the Future of Everything, by Paul Vigna and Michael J. Casey. The premise is that it took many centuries for the current paradigm, double entry bookkeeping, to revolutionize the marketplace, but now that the effect of those who would game the system pretty well offsets the increase of those who honestly abide by the system, it is time to find a new, greed-proof paradigm.

Against Veneration

I have close friends who venerate Adam Smith, John Rawls, Friedrich Hayek, James Buchanan, John Maynard Keynes, Ayn Rand, John Stuart Mill, Ludwig von Mises, Paul Samuelson, Deirdre McCloskey, Elinor Ostrom, Hannah Arendt, Alexis de Tocqueville, David Hume, Murray Rothbard, Paul Krugman, or Thomas Jefferson. This veneration of the Great Names mystifies me on two levels.