KOL176 | “Rethinking Intellectual Property: History, Theory, and Economics: Lecture 5: Property, Scarcity and Ideas; Examining Rights-Based Arguments for IP” (Mises Academy, 2011)
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Kinsella on Liberty Podcast, Episode 176. This is the fifth of six lectures of my 2011 Mises Academy course "Rethinking Intellectual Property: History, Theory, and Economics" (originally presented Tuesdays, Mar. 22-April 26, 2011). The first lecture may be found in KOL172. Youtube and slides for this lecture are provided below. The course and other matters are discussed in further detail at KOL172. The “suggested readings” for the entire course are provided in the notes for KOL172. Lecture 5: PROPERTY, SCARCITY, AND IDEAS; EXAMINING RIGHTS-BASED ARGUMENTS FOR IP SUGGESTED READING MATERIAL See the notes for KOL172. ❧ Transcript Rethinking Intellectual Property: History, Theory, and Economics—Lecture 5: Property, Scarcity and Ideas; Examining Rights-Based Arguments for IP Stephan Kinsella Mises Academy, April 12, 2011 00:00:00 STEPHAN KINSELLA: … like he usually does. How is everybody doing tonight? Is everyone – is it night for everyone? Do we have any foreigners here online yet? I don’t see a way – Gwen wants to know about popping the media to your panel. I don’t see a way to do it, so what we’re going to do is I’m going to share my desktop later when I get to that video, so that’s down the line. So let’s get going. I spent actually a couple of hours today on a blog post, which we’ll get to shortly. 00:00:43 So today we’re going to focus on sort of the libertarian Austrian framework that you need to have to look at all this stuff the right way. We’ve kind of gone through the conventional views, the sort of confused natural rights views for IP, the utilitarian views. But now let’s approach it from the ground up the way it makes more sense. Oh, I didn’t change the date on this slide. It’s not December 10, but everything else has changed. Sorry about that. Okay, I’m going to go through a few posts I did on C4SIF in the last seven days, and also I left a few in from the last version of this course because they were pretty substantive, meaty posts that make good material. 00:01:30 What I’ve been doing actually is I listen the day before these lectures to the one I gave on the same day last course to kind of remind myself of what I covered that wasn’t planned. And that way I can gradually improve these. But anyway, and I decided to leave some of the things in, but we’ll get to those in a second. So the post I spent a lot of time on today was this one here, the first one, “Mossoff: Why Business Leaders Should Care About Intellectual Property.” 00:01:58 This is on slide two. By the way, can everyone see and hear me okay? Anyone – anyone? Sound okay? Too loud? Too quiet? Or is it all right? Fine, good. This is the shirt, by the way, I was given when I went to Austin and gave a speech on IP. Norman Horn gave me this and Coke paid for it so I’m happy about that. 00:02:24 00:02:27 So Adam Mossoff is a law professor at GMU. He’s an objectivist. He’s one of the few people still trying to come up with a way to justify intellectual property and in particular from the objectivists or Ayn Rand’s point of view. So if you want to read that post, I kind of go through a lot of problems with his speech. He gave a long lecture, and it’s just full of confusions and errors, and I think most of you just from taking this course, you can see a lot of the mistakes he makes. 00:02:58 He makes the mistake of basically assuming there’s a property in value and also of assuming that you create a thing called value that you have a property right in without recognizing that what you really do when you create or produce is you transform with your effort owned property that you already own,