5 ms·

I'm not even sure you can call it "free market" because of the distortions that patents bring into it...

• rayiner 10y ago
  Patents distort what would happen in the absence of patents, but so does every other kind of property right. Markets in the absence of patents exhibit free rider effects, which are themselves undermine market efficiency.
  • theseatoms 10y ago
    The free rider effects you're referring to are exacerbated by how arduous the FDA approval process is.