December 2008 Issue

Volume 58, 2008

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cover image December 2008
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FEATURES

Do Patents Encourage or Hinder Innovation? The Case of the Steam Engine

Today one of the most controversial issues in economic policy is that of patent law. Is a patent just an extension of property rights to the realm of ideas? Or is it an unwarranted interference by the government into the rights of individuals?

Mr. President, Meet Mr. Smith

Since it’s obviously possible for people to reach the pinnacle of politics without seeming to know much about either economics or Smith, perhaps we’re overdue for a little reminder about both.

- December 01, 2008

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