This panel was recorded April 24, 2010 as part of the conference "Creating Capabilities," held at the University of Chicago Law School and organized by James Heckman, Martha Nussbaum and Robert Pollak.
Patents encourage innovation by granting inventors exclusive rights to sell their inventions. The resulting monopoly profits are a reward for innovation. It is commonly thought, however, that these monopoly profits price some consumers of inventions out of the market. This loss of consumption is an “efficiency” cost of patents.
Institutional investors, because of their relatively larger ownership stakes, have more incentive than retail investors to monitor the companies in which they invest, particularly if it is costly to exit.
This panel was recorded on December 5, 2009 as part of the conference "Markets, Firms and Property Rights: A Celebration of the Research of Ronald Coase." The conference brought together a group of scholars to honor the life and research of Ronald Coase. 2009 marked the 50th anniversary of the publication of Coase’s seminal paper on the Federal Communications Commission.
Harvey Levin, '75, is the Executive Producer of TMZ.com and TMZ TV. He also is a Host of The People's Court and was Creator and Executive Producer of Celebrity Justice. Mr. Levin has taught at the University of Miami School of Law, Whittier College School of Law, and Loyola Law School, Los Angeles. This talk was recorded on October 18, 2010.
Reasonably secure property rights are widely understood as important for economic growth, though it is also understood that interest groups and politicians can benefit from particular configurations of rights. What might change in a world where intellectual property dominates? How should we expect innovators to be motivated in the next century?
This talk was delivered On October 4, 2010, as part of the Law School's annual First Mondays lecture series for alumni. Geof Stone is Edward H. Levi Distinguished Service Professor at the University of Chicago Law School and a 1971 graduate of the Law School.