https://19-pacheco-torgal-19.blogspot.com/2022/01/as-patentes-nao-contribuem-para.html
Continuing from the aforementioned article by three German Professors of Innovation Economics highlighted in the preceding post, the assertion that “Patents seem to have no clear effect on economic growth” comes as no major revelation. A recent Business Insider article aligns with this perspective, suggesting that European innovators would be better served by prioritizing value creation over the conventional emphasis on protecting intellectual property.
Nevertheless, it’s regrettable that Ian Mundell, the author of the article, overlooks the notorious case of the Theranos unicorn, valued at 10 billion dollars and adorned with over 100 patents. Notably, these patents were rooted in a void of substantiating evidence, contributing nothing in terms of value creation. This prompts a pertinent question: among the vast multitude of patents granted thus far, how many share the same dubious “quality” as those associated with Theranos?
Ps – In January of this year, a heated debate ignited in Australia over a decision by the Ministry of Education to veto funding for six research projects in the field of Humanities. The rationale behind this move was purportedly that these projects did not provide sufficient value for taxpayers’ money. In her book “Not For Profit: Why Democracy Needs the Humanities,” philosopher Martha Nussbaum argued that the Humanities play a crucial role in sustaining healthy democracies. Admittedly, skeptics might dismiss Nussbaum’s stance as merely advocating for her own academic domain. Setting cynicism aside, consider the hypothetical scenario of a scientific field that could actively contribute to preventing conflicts such as war. Given the colossal costs associated with addressing the aftermath of conflicts—take the reconstruction of Ukraine, for instance, projected to require hundreds of billions—such a field would undoubtedly hold immense economic value (not to mention that the IMF warned that this War will devastate the world economy). The challenge then arises: how do we accurately measure and quantify the economic value of that scientific field?
Pacheco-Torgal 