James Boyle: Geeks in software patent frenzy

I choose a sound bite from FT.com / Comment & analysis / Columnists - James Boyle

Professor James Bessen and Robert Hunt of the Federal Reserve Bank found that the increase in the level of software patenting in the US was associated with a significant decline in investment in research and development by software companies. As more and more patents were granted, companies spent less on R&D.

I love it when The Financial Times and The Economist agree with me.