We present a Marxian theory of the capitalist production of knowledge and of financialization as two processes subsumed under the principle of autonomization of capital. Our approach consists of three tasks. The first is to develop the principle of autonomization. The second is to show how...

In standard neoclassical theory a double neutrality holds: the nature of the technical assets employed in production does not influence property rights and vice versa the property right structure does not influence the technology adopted by the organization. However, empirical evidence shows...

Strict protection of IPR can have a negative effect on economic development. Regression of economic growth on these indices produces conventional results (positive effect of stricter protection of IPR on growth) only if indices of institutional capacity (government effectiveness, control over...

This work incorporates the idea that the protection of intellectual property rights may hinder the free flow of scientific knowledge from innovations in a standard endogenous growth model and finds that stronger protection of intellectual property rights may discourage innovation.

This paper quantifies the effects of drug monopolies and low per-capita income on pharmaceutical prices in developing economies using the example of the antiretroviral drugs (ARVs) used to treat HIV.

This study develops an R&D-based growth model with vertical and horizontal innovation to shed some light on the current debate on whether patent protection stimulates or stifles innovation. We analyze the effects of patent protection in the form of blocking patents. We show that patent...

A special characteristic of the patent system is that it features multiple patent-policy levers that can be employed by policymakers. In this note, we develop an R&D-based growth model to analyze the optimal mix of patent instruments by considering patent breadth and the division of profit in...

We study a dynamic general equilibrium model where innovation takes the form of the introduction of new goods whose production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are adapted to be produced using unskilled labor. Our...

In attempting to protect their innovations, firms can choose from a range of mechanisms, which may be either non-statutory (trade secrets, design complexity, and lead-time advantage over competitors) or statutory (patent, design registration, trademark, copyright). Yet, little is known about how...