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intellectual property. He pointed out that facing the importance of creativity; the key
problem was to encourage the design of mechanism. The design of system was
different according to countries and specific conditions and the property systems,
including the intellectual property system were like that. The important part is the
correspondence of responsibility and rights.
Professor Stiglitz thought that the biggest challenge on creativity mechanism China
faced as a developing country was to minimize the intelligence gap with developed
countries. And the gap is large. Therefore, China should not simply follow the path of
developed countries in designing creativity mechanism, but to establish a system of
intellectual property based on development, focusing on increasing the efficiency of
resources.
Professor Stiglitz then pointed out the cons of patent system. He thought the
existence of intellectual property would limit the use of intelligence, causing damage
to efficiency or bringing (temporary) monopoly. At the same time, this may cause
loss of passive efficiency and active misjudgment.
Based on the arguments above, Professor Stiglitz finally suggested the use of
rewarding mechanism to encourage creativity, and minimizing the proportion of
patent system in the process.
Edited By : Li Nanxin
Translated By : Chen Qianzhi
Source : PKU News (Chinese)
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