Economics @ ITT

Lives versus Profits

Posted in economics by ittecon on May 7, 2013

I am not fan of so-called intellectual property rights—and have issues with property rights in general—, but this is particularly egregious. It will be so nice to see the misguided power of the United States fade into the sunset.

America’s intellectual-property regime—and the regime that the US has helped to foist upon the rest of the world through the TRIPS agreement—is unbalanced. We should all hope that, with its decision in the Myriad case, the Supreme Court will contribute to the creation of a more sensible and humane framework.

via Lives versus Profits by Joseph E. Stiglitz – Project Syndicate.

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Goods: Public of Private

Posted in economics, Policy Issues by ittecon on June 11, 2012

Should public goods continue to exist?

The government promised that the public would get parks where citizens could exercise and stay strong – shared open spaces that would be theirs forever, places that would inspire and invigorate.

But one park became a Las Vegas hotel. Another was almost turned into a beachfront McDonald’s. Another is being converted into an upscale private resort in Oklahoma.  And in New York City, the National Park Service allowed the New York Yankees, the nation’s richest baseball franchise, to build a parking garage atop public ball fields that needy kids at the local schools didn’t see replaced for six years.

via Pledges forgotten, local governments repurpose federally funded parks – Open Channel.