Intellectual property laws generate excessive, monopoly profits and “royalties” to the holders of politically-privileged patents, licenses, and copyrighted materials, to the detriment of consumers.
A recent example of this phenomenon occurred when consumers experienced a shortage of N95 masks, and intellectual property laws interfered with attempts to fill the need.
Two chapters of Ken Schoolland’s book The Adventures of Jonathan Gullible: A Free Market Odyssey illustrate the problem, and suggest a solution.
Chapter 2 – Troublemakers
Chapter 31 – Whose Brilliant Idea?
For a more in-depth case against intellectual property laws, see Against Intellectual Monopoly, by Michele Boldrin and David K. Levine.
And visit the blogs Against Monopoly and the Center for the Study of Innovative Freedom.