“If we did not have a patent system, it would be irresponsible, on the basis of our present knowledge of its economic consequences, to recommend instituting one. But since we have had a patent system for a long time, it would be irresponsible, on the basis of our present knowledge, to recommend abolishing it.”
Quote by Fritz Machlup
Author
Fritz Machlup
Fritz Machlup was a prominent economist, born on December 15, 1902, and died on January 30, 1983. He made significant contributions to the fields of monetary economics and econometrics. more
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