Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm LifeFairchild, Geo. T. (George Thompson)
Science
Rural Wealth and Welfare: Economic Principles Illustrated and Applied in Farm Life
Fairchild, Geo. T. (George Thompson)
Agriculture -- Economic aspects; Economics
_Monopoly privileges._—Government monopolies have been a favorite method
in past ages of fostering particular enterprises. These are in the nature
of an exclusive privilege, granted to individuals or corporations for the
manufacture or sale of particular commodities, and occasionally for
special public services. These were once a method of showing royal favor,
and the word monopoly has in its very nature the idea of inequality. Hence
they are unpopular under all circumstances, except when permanent and
universal advantage is secured.
_License._—The monopoly of service is secured by the issue of a license.
If granted through official favoritism, the wrong is easily appreciated;
if granted to all who conform to necessary requirements for the general
welfare, as in showing qualifications for teaching, compounding of drugs,
or practice of medicine, the license is recognized as useful. In fact, it
seems to furnish security for satisfactory governmental service, and is
the basis of all promised reform in civil administration.
_Patent and copyright._—The chief illustrations of a genuine monopoly
maintained by government authority are found in the patent upon inventions
and the copyright upon publications. A patent is conferred upon the
inventor of “any new and useful art, machine, manufacture or composition
of matter, or any improvement thereof,” upon proof that the invention is
original, not previously in use anywhere, and likely to be beneficial
rather than detrimental. This patent secures to the inventor the sole
right to make, use or exchange articles manufactured after the pattern
described, or upon the principle involved in construction. This monopoly
is limited usually to a term of years supposed to be sufficient to secure
to the inventor a reward for his exertion. The patent laws of the United
States protect the rights of an inventor for seventeen years, entitling
him to damages upon proof in the proper court of infringement upon his
patent. Such protection extends, of course, only throughout the territory
under the same government. It may be secured, however, in foreign nations
under special regulation, so as to cover the most of the civilized world.
The copyright serves the same purpose, and is limited in much the same
way, for securing to the products of thought or of taste a proper reward
for the powers exerted. It gives to an author control over publication of
his thoughts during a period of twenty-eight years, in order that the
users of his thoughts may actually pay what they are worth. This, too, is
confined to the limits of the government issuing it, unless by agreement
an international copyright is provided by the laws of the several
countries.
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