The Real Victims in the Patent Wars | Timothy B. Lee | Cato Institute: Commentary

The Real Victims in the Patent Wars | Timothy B. Lee | Cato Institute: Commentary: 'Patents are supposed to reward innovation, but in the software industry, they are having the opposite effect. The patent system has become a minefield that punishes innovators who accidentally infringe the patents of others. There are now so many software patents in force that it is practically impossible to avoid infringing them all.

The result has been an explosion of litigation. Large firms like Apple, Microsoft, Motorola, and Samsung are suing one another over mobile phone patents. And as a recent episode of This American Life documented, there are entire office buildings full of "patent trolls" that produce no useful products but sue other companies that do. What has gone largely overlooked in the coverage of the “patent wars,” however, has been the disproportionate burden placed on small firms—which has enormous consequences for the movement toward DIY innovation.'

'The patent system doesn't even offer software developers an efficient way of figuring out which patents they are in danger of infringing upon.'

'Little wonder, then, that most software firms don't even try to avoid infringement. Defending against patent litigation is simply seen as a cost of doing business in the software industry. Startups hope that by the time the inevitable lawsuits arrive, they will have grown large enough to hire good lawyers to defend themselves. But as the number of software patents—and with it, the volume of litigation—has soared, smaller companies have become targets.'

Blind Ambition Is Not a Presidential Job Qualification | Gene Healy | Cato Institute: Commentary

Blind Ambition Is Not a Presidential Job Qualification | Gene Healy | Cato Institute: Commentary: '"an abnormal-psych study could be written on every president of the modern era except the one who never ran for national office, Gerald R. Ford." With apologies to Groucho Marx, anybody who wants to belong to this club shouldn't be allowed to be a member.

In his terrific book "See How They Ran," historian Gil Troy writes that "Originally, presidential candidates were supposed to 'stand' for election, not 'run.' They did not make speeches. They did not shake hands. Republican detachment from the political arena was good and dignified; actively seeking office and soliciting votes was humiliating and bad."'

'we ought to strive to make the office less powerful, and thus, a less attractive prize for those who hunger for power.'

Fixing the Federal Reserve | Richard W. Rahn | Cato Institute: Commentary

Fixing the Federal Reserve | Richard W. Rahn | Cato Institute: Commentary: 'The Fed was established to provide price stability and prevent periodic banking crises. It has accomplished neither.

The wholesale price level in the United States was at almost the same level when the Fed was established in 1913 as it was in 1793, 120 years earlier. Now it takes about 22 dollars to equal the 1913 dollar. There have been far more bank failures post-Fed than pre-Fed, and we seem to be in an almost permanent state of banking crises with “too big to fail.”'

'the monetary situation could be greatly improved if: (1) The Fed were charged only with maintaining the value of the currency and nothing else; (2) others were given the right to compete with the Fed in creating money (again, provided they do not claim it is legal tender); and finally, (3) the capital gains tax were removed from commodity transactions.'