I came across this interesting article about the effect of IP policies on inequality (in a US context). The author, Dean Baker, argues that terms of IP monopolies are perpetuating inequalities and causes “upward redistribution of wealth” in our society, and that there are other better ways to incentivize innovation and creativity. Baker also goes into topical issues such as the Moderna COVID vaccine, and how the US government paid hundreds of millions of dollars into its development and yet still allowed Moderna to have patent monopolies. This seems contrary to pharma’s strongest argument in favour of patents, namely the extremely high risk and long-term investments in drug development. Here, “[i]f the vaccine had proven to be ineffective, the government would have borne the cost, while Moderna still would have been paid.” Baker concludes by bringing in a political lens, exploring the current relationship between US and China with regards to the value (or rather lack thereof) of enforcing US intellectual property in China, arguing in favour of pooling technology and research. “We share a common, global goal in taming the pandemic as quickly as possible, so we should be using every tool available to accomplish it. The same principle applies to technologies combating global warming.”
This article bears the question of how IP benefits (or hinders) our efforts in facing some of humankind’s largest challenges today. Definitely an interesting read, especially when considering whether the way that IP is regulated effectively achieves its justifications and objectives.
https://www.thenation.com/article/economy/inequality-patents-taxes-copyright/
Communications Law