Where Einstein Meets Edison

Kremerian Patent Buyouts: Why We Are Still Intrigued After 13 Years and Why They Cannot Work

Kremerian Patent Buyouts: Why We Are Still Intrigued After 13 Years and Why They Cannot Work

Mar 14, 2010

In 1997 Prof. Michael Kremer, then an Associate Professor of Economics at MIT, proposed a radical scheme to replace the intellectual property system in the United States. Eschewing the principle that “Inventors [have] the exclusive Right to their respective Writings and Discoveries” for a limited period of time, as put forth in the U.S. Constitution,...