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Intellectual Property Limits Job Potential

No, your not going to hear that headline anytime soon. So called liberal news sources like New York times and NPR are in fact rabid Neo Liberals. Dean Baker, one of my favorite economists spends a good amount of deconstructing both sources.

Today, Baker takes the NYT to task for accusing China of theft of our intellectual property.

York Times told readers that, “China has a well-earned reputation for theft.” Intellectual property rules are defined by each country. China can only engage in “theft” if it has set up rules that is violating. In many cases, its laws on intellectual property do not provide clear protection to U.S. firms, therefore they may not be engaging in anything that can be described as “theft.” via Beat the Press.

Baker is right the frenzy on intellectual property is an American one, and one that verges on unconstitutional. Intellectual property’s constitutional intent was to encourage innovation. It was designed to give an individual time to get their idea up and running not as some right one passed along to your children to discourage innovation.

But what gets me with Obama and his fat cats is of all things to take China to task for it is intellectual property. It is not how China is screwing us by lowering the value of the Yen, or totally knocking our steel producers out of the market. No, what Obama seems obsessed about is the fat cats intellectual property.