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The Acceptable Face of Intervention: Intellectual Property in Posnerian Law and Economics.

Campbell, David and Picciotto, Salomone (2006) The Acceptable Face of Intervention: Intellectual Property in Posnerian Law and Economics. Social and Legal Studies, 15 (3). pp. 455-472. ISSN 0964-6639

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    Abstract

    This is a review article of Landes and Posner's "The Economic Structure of Intellectual Property Law" (2003). It argues that their defence of intellectual property is not reconcilable with the stance they have elsewhere taken towards government intervention. IP rights are government interventions in market allocations, and their justification is in terms of optimising the social welfare function. As such they should be subject to many of the criticisms L&P have levelled at other interventions, but they are not. Reflection on this paradox leads to interesting insights into the nature of Posnerian �efficiency� and �welfare maximisation�. More broadly, it once again illustrates the way in which Posnerian law and economics is an interaction of mutually reinforcing economic and legal formalisms. A truly critical approach to both the law and the economics of IP could contribute to a fundamental re-evaluation of the social consequences of IP law, especially as it has developed in the recent past, and to some radical proposals for change. But L&P merely apply a hackneyed formula to yet another body of law, and so provide no more than a few ideas for tinkering with details of IP; despite being, as we will see, conscious that the entire edifice rests on the weakest of foundations.

    Item Type: Article
    Journal or Publication Title: Social and Legal Studies
    Additional Information: This is the version as accepted for publication, but prior to copy-editing, typesetting, and final corrections. The final, definitive version of this article has been published in the Journal, Social and Legal Studies, 15 (3), 2006, © SAGE Publications Ltd, 2006 by SAGE Publications Ltd at the Social and Legal Studies page: http://sls.sagepub.com/ on SAGE Journals Online: http://online.sagepub.com/
    Uncontrolled Keywords: intellectual property law and economics copyright patent
    Subjects: K Law > K Law (General)
    Departments: Faculty of Arts & Social Sciences > Law School
    ID Code: 262
    Deposited By: Prof Sol Picciotto
    Deposited On: 30 Jan 2007
    Refereed?: Yes
    Published?: Published
    Last Modified: 26 Jul 2012 16:30
    Identification Number:
    URI: http://eprints.lancs.ac.uk/id/eprint/262

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