Open Access News

News from the open access movement

Thursday, February 19, 2004

Economic arguments for the public domain

Stan Liebowitz and Stephen Margolis, Seventeen Famous Economists Weigh in on Copyright: The Role of Theory, Empirics, and Network Effects, AEI-Brookings Joint Center, January 2004. On the powerful but unavailing amicus brief by 17 economists, including five Nobel laureates, supporting Eric Eldred and opposing the extension of the term of copyright. Excerpt: "The economists contemned CTEA [the Sonny Bono Copyright Term Extension Act] on the grounds that the revenues earned during the extension are so heavily discounted that they have almost no value, while the extended protection of aged works creates immediate monopoly deadweight losses and increases the costs of creating new derivative works." (Thanks to Politech.)