The argument is that the desire to establish a monopoly stimulates innovation, not necessarily that monopolists are innovative once established. There's also a

The argument is that the desire to establish a monopoly stimulates innovation, not necessarily that monopolists are innovative once established. There's also a big difference between natural monopolies (like electricity or gas distribution networks) and IP monopolies. Monopolies that are established by providing a vastly superior product require continuous R&D investment to maintain and natural monopolies do not.