Patents are a form of government granted monopoly that greatly enriches a few people at the expense of everyone else in society.
Boeing is an excellent example of this.
Have you ever wondered why commercial airplanes look pretty much identical to commercial planes of the 1960’s? Why airframes and materials and everything else hasn’t seen far more advancement? Have you wondered why you don’t see any new competitors building airplanes?
The reason is that Boeing owns so many patents in aerospace it is nearly impossible for any new entrepreneur to get started.
Boeing turns out airplanes like the 787 Max that are so sloppily built that they drive themselves straight into the ground. Boeing sees most of it’s airline buyers go into a pandemic where no one wants to fly. Despite all of this – Boeing is still earning solid revenue. Why? It’s patents give it a permanent monopoly in aerospace.
Right now, I would give Boeing a solid Buy rating if I was a financial analyst. It’s stock is down over 50%, but it’s revenues will remain strong and as soon as people start flying again, it’s stock will go way up.
We need to get rid of all laws that grant government protected profits as these are simply unAmerican… we especially must get rid of patents.