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Open-Source Software: Who Needs Intellectual Property?

Open-Source Software: Who Needs Intellectual Property?

The market for open-source software—uncopyrighted, freely reproducible computer programs—is not well understood by economists. A central source of surprise is that innovation can thrive in a market without traditional intellectual property (IP). But as we argued in a...
THE SCIENCE FICTION OF SCARCITY

THE SCIENCE FICTION OF SCARCITY

We all know the scene. The urbane starship captain steps up to the console and requests, “Tea. Earl Grey. Hot.” He waits a second or two until a steaming, perfectly brewed cup shimmers into existence. From medieval dreams of the Land of Cockaigne, where roofs are...