There are some interesting points about whether things like patents and copyrights actually hinder technological progress and economic growth (rather than stimulate it, as their defenders claim).
But it seems to me that the fundamental problem with government-granted intellectual property rights (from a libertarian perspective) is that they're granted by government. The very fact that these rights can only exist through the workings of a coercive, monopoly government indicates that they are not true rights. It's the same as the socialists who say that there exists a 'right' to health care or a minimum wage or a certain level of housing. We know these are not true rights because they require initiation of force against someone else. Since the creation and enforcement of today's patents, copyrights, etc., also requires the initiation of force (at the very least in the form of taxes confiscated to fund that part of the government), it seems that those are not real rights.
However, I do imagine there could develop some form of market-based IP in the absence of the government system depending on how the costs and benefits play out in different situations.
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