Machlup, 1958, An economic review of the patent system

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Fritz Machlup. 1958. https://cdn.mises.org/An%20Economic%20Review%20of%20the%20Patent%20System_Vol_3_3.pdf An economic review of the patent system]. Submitted to the Senate Subcommittee on Patents, Trademarks, and Copyrights. 90-ish pages with some Senate front matter, an introduction, and a lengthy bibliography.

Machlup's work on patents was thought to be masterful and definitive. I think this is his most-cited work on patents.

He was an economics professor at John Hopkins, and had been the Chief of Research and Statistics for the Office of Alien Property during WWII, 1943-46, which included U.S. management of foreign-owned patents during the war. The issues then were presumably analogous to those of foreign-owned patents in WWI.

A central cited conclusion is that the evidence does not make clear whether it is better economically to have a patent system or not to have one.


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