2.3 Economics of Information Production (Nutshell)

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Copyright, patents and trademarks are often lumped together under the term of intellectual property. This term already implies that intellectual works are analogous to physical property which isn't the case. Information is a norival good: It can't be used up, information shared is information doubled. Information is a core-prerequisite to creating new information. Such exclusive monopoly rights lock information in and prohibite innovation. In a time where the basic tools for information production in form of computers are available to millions of people, the law still favours capital-intensive industries over individuals and small businesses.