SeaNN (seann) wrote,
SeaNN
seann

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The tragedy of commons is that it leads to overuse and destruction; the tragedy of the anticommons leads to underuse and waste. The point isn’t that private property is a bad thing, or that the state should be able to run roughshod over the rights of individual owners. Property rights (including patents) are essential to economic growth, providing incentives to innovate and invest. But property rights need to be limited to be effective. The more we divide common resources like science and culture into small, fenced-off lots, Heller shows, the more difficult we make it for people to do business and to build something new. Innovation, investment, and growth end up being stifled.
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