Efficiency vs. Equality

~ Thursday, February 9 ~
Permalink Tags: raganwald free market intellectual property politics riaa mpaa lobbying rebels libertarian
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~ Tuesday, July 6 ~
Permalink Tags: innovation ridley rational optimist economics science capital intellectual property government exchange sex idea
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~ Thursday, May 27 ~


Johanna Blakely details the lack of copyright protection that has helped to shape a remarkably innovative fashion industry. This is an important lecture that should be watched by anyone interested in the intellectual property debate. 

Nice talk but there are some problems. I take the pharmaceutical industry as an example.

Development cycles. The fashion industry generates thousands of ideas every year. You doesn’t need much overhead in form of machines, working spaces etc.. The development cycles are very short. Make design. Produce it.

The pharmaceutical industry has a very long development cycle. It’s about 20 years per product. You need a lot of researchers, labs and materials.

Trend cycle. There are at least four trends per year for the fashion industry. The latest summer fashion, winter fashion, spring fashion and of course autumn fashion. That is, each fashions should be in vouge for about three months.

Finally, the bar chart is kind of nonsense.

You see the sales of some goods in billion USD. Top three are food, automobiles and fashion. The bottom three are films, books and music. Seriously. How often needs someone food, clothes or an automobile compared to films, music and books?

Tags: ted johanna blakely fashion intellectual property innovation trend development pharmaceutical industry
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