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Perelman

_Michael Perelman teaches economics at California State University,

The dramatic expansion of imaginary property rights represents a

We have no precise measure of the extent of imaginary property, but

While the legal protection of imaginary property might seem

The free-marketeers of the nineteenth century vigorously opposed

At first, business owners tried forming cartels and trusts to hobble

The strengthening of imaginary property rights accelerated once

The Bizarre World of Imaginary Property Rights

Today, imaginary property rights claims go far beyond patent

The American Society of Composers, Authors, and Publishers (ASCAP),

Absurd claims to informational property rights have been expanding by

One critic of the patent system even succeeded in winning a patent for

To illustrate this point, Richard Stallman, winner of a MacArthur

The Dual Economy

Imaginary property rights change the nature of competition. Most

For example, Federal Reserve Board Chairman Alan Greenspan recently

Let us decode the Chairman's words. For agricultural products, steel,

A few years earlier, Greenspan was emphasizing a different part of the

The world of 1948 was vastly different from the world of 1996. The

In his more recent testimony, Greenspan noted, however, "a firm is

The Costs of Imaginary Property Rights

Imaginary property rights are in the process of corrupting society

Between 1995 and 1998, the average annual income for a member of this

Emblematic of the extent of this new distribution of property, in 1999

Perhaps the famous trickle down effect could justify the obscene

For example, virtually no new technology is the product of a single

Imaginary property rights spawn a system of wasteful litigation.

Imaginary property rights also create an atmosphere of secrecy,

Oil or Imaginary Property

While energy sources are the central to maintaining life itself, let

The strengthening of imaginary property rights is perhaps the most

The hidden hand of the market will never work without a hidden

Imaginary Property and Corporate Control

Guarding the property rights of typical material commodities is

Purveyors of imaginary property implore the government, often with

A frightening, albeit ridiculous, example of this invasiveness came

Conclusion

So here are imaginary property rights that undermines science, burdens the




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