Economics Rob Beschizza sees clues to the economics of patent litigation in the public pronouncements of Lodsys, a company that has sued small Apple developers based on IP claims covering such common app features as upgrade buttons. copy of a 2007 patent for "Methods and Systems for Gathering Information from Units of a Commodity Across a Network"natural result of a social Darwinian struggle between those who work hard, and those who do not. Thus are Americans slowly but steadily being led to acceptance of the rise of a new oligarchy.
In my view the problem was that economic policy deviated from basic economic principles which had worked well. The result was a great recession, a financial panic, and now a very weak, nearly nonexistent, recovery. The deviations included a monetary policy which set interest rates too low for too long and a regulatory policy which failed to enforce existing rules. The deviations from sound principles continued when government responded with an ad hoc bailout process and temporary fiscal stimulus programs.
The good news for the economy is that economic growth and stability can be restored by adopting policies consistent with basic economic principles.The good news for teaching is that the crisis has left us with many examples where teachers can illustrate basic economic principles including that incentives matter, the permanent income hypothesis, regulatory capture, and the money multiplier.
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