Innovation and inequality

Matt Yglesias in Slate suggests that, if only the top 1% has disposable income, innovation will be very different from innovation in a more egalitarian state, and the only way for a mass market product to succeed will be for it to be free/ad-supported.  (He also discusses the emphasis on branding/exclusivity of the expensive products made for the 1%.)  A useful reminder that IP’s standard monetary incentives story requires someone to pay; rights in themselves have no economic value.

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