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Joseph E. Stiglitz: China should
establish a system of intellectual
property based on development
PKU NEWS 2007—3-15
http://ennews.pku.edu.cn/news.php?s=174354403
Peking University, Beijing, March 15th, 2007: Professor Joseph Stiglitz gave a
speech on the topic ―Design of Chinese mechanism of creativity system in the
perspective of intellectual property‖.
In the afternoon of 8th March, Professor Joseph Stiglitz, Nobel laureate in
economics and professor of the Faculty of Economics of University of Columbia
came to PKU China Centre for Economic Research again and gave a speech on the
topic ―Design of Chinese mechanism of creativity system in the perspective of
intellectual property‖. The talk was hosted by Professor Lin Yifu, Director of China
Centre for Economic Research.
Professor Stiglitz was once the Council Chairman of the Council of Economic
Advisors of ex-US President Clinton administration, Chief Economist and Senior
Vice President of the World Bank. He has been the professor of the Faculty of
Economics of University of Columbia since 2001. In 2001, because of his
extraordinary contribution in the development of information economics, he and
another two American economists George A. Akerlof and Michael Spence were
awarded the Nobel Prize in economic sciences. Since 2006, he was hired as the
Professor of Cheung Kong Scholars seminars of PKU China Centre for Economic
Research.
The speech of Professor Stiglitz began with a story of 25 years ago. A Chinese
publisher wrote a letter to him saying that they wanted to publish the translated
version of Professor Stiglitz‘s economics textbook and asked him to write a preface.
It was valuable for spreading knowledge in Professor Stiglitz‘s eyes.
Professor Stiglitz emphasized that intelligence was the beginning of creativity. At the
same time, creativity was the development and use of intelligence. The
mismanagement of the market of creativity mechanism needs the regulation of the
government and the patent law in US is one of the examples of overprotecting
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