Unless we came up with a different funding mechanism. Joseph Stiglitz for example has advocated a prize system for pharmaceuticals, though he doesn't suggest replacing the patent system entirely.
Salk didn't need that temporary monopoly to invent the polio vaccine, which has gone on to be one of the biggest success stories of vaccines and modern medicine general.
Okay? Does that disagree with anything I wrote?
My point was to whether it was artificial not whether it was bad.
We can have artificial interventions in markets, and that can be a net benefit and a good thing.
I’m not sure why everyone is responding as if “artificial” and “bad” are the same thing
Unless we came up with a different funding mechanism. Joseph Stiglitz for example has advocated a prize system for pharmaceuticals, though he doesn't suggest replacing the patent system entirely.
https://www.project-syndicate.org/commentary/prizes--not-pat...
Salk didn't need that temporary monopoly to invent the polio vaccine, which has gone on to be one of the biggest success stories of vaccines and modern medicine general.