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Innovation and Its Discontents: How Our Broken Patent System is Endangering Innovation and Progress, and What to Do About It

Innovation and Its Discontents: How Our Broken Patent System is Endangering Innovation and Progress, and What to Do About It. By Adam B. Jaffe and Josh Lerner. Princeton: Princeton University Press, 2004. 236 pp. $20.95, ISBN 0-691-11725-X (hardback); $17.95, ISBN 0-691-12794-8 (paper).

While most economic literature on patents and innovation is either theoretical (and highly abstract) or empirical, the book under review here is best characterized as institutional. It analyzes how the current patent system produces undesirable consequences for innovation, how this state of affair has come about, why past reform attempts have failed, and how to reform the system to support innovation. It ...

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