QUICK BITS no. 13

Don Pittis posts (2 November) on CBC News HERE

http://www.cbc.ca/news/business/fiscal-update-morneau-reaction-1.3830856'

“He says the idea that intellectual property is guided by Adam Smith's invisible hand is simply absurd. Instead, he describes a world where international bodies hammer out intellectual property rules, and where leaders, surrounded by intellectual property advisers, fight for policy and standards that favour their own corporate champions.”

COMMENT 

Well somebody is waking up to the need to ditch the modern avoidable error of misreading Adam Smith on his use of “an invisible hand”.  That’s the good news. Problem is the problems of making money out of innovation remain, as Don Pittis shows.