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No, I don't go down that Libertarian path. I believe there is some value to patents and trade secrets that should be passed to the owners as a reward for their innovation. But that is just it, there must be innovation. Creating a timed released version or changing the color of a pill is not innovation and should not be rewarded with an extended patent. And, to the extent those rewards actually reflect the value of that patent or trade secret to the economy, well I am not opposed nor would I call it rent seeking. That is not what we are talking about in respect to McDonalds.
I'm not sure what you mean "Libertarian Path."
Murray Rothbard would certainly never suggest that patents OR BRANDING be hampered by the state.
McDonalds has built a brand name that holds a great deal of value. To expect or demand the owners of that brand to simply give it away is ignorant. Branding is an important type of innovation, whether that is creating the Coca-Cola brand or one's personal brand through professional reputation. Brand carries reputation and is one of the most critical elements of marketing.
The Marxian concept that we should eschew rents is highly ignorant of how markets work.
You might want to rethink that Rothbard bit. Yes, he supported Intellectual Property Rights, like copyrights. But patents, not so much. I mean look at your statement, it is almost comical. What do you mean patents be hampered by the state, hell the state is the one handing them out.
And boy howdy do you have it wrong when you say it is Marxism that eschews rent seeking activity. Again, a free market is free of rent seeking activity. That is what a free market is. Marxism sees rent seeking as the inevitable destination of capitalism, the proverbial "rope" that capitalism will provide for it's hanging. The free market concept was initially conceived in order to prevent this rope creation. Now the meaning has been co-opted and rent seeking has begun it's eventual destruction of capitalism.
And Rothbard was concerned with rent seeking, especially the kind granted by government privilege. Here is what he said, simplified as best I can.
Remember, easiest way to explain rent seeking, it is attempting to get more pie without making more pie but by taking more of the pie that is already there. Rothbard was worried that when firms profited more by taking more of the pie, instead of producing more pie, they would increasingly seek ways to get more pie at the expense of the innovation and production required to make more pie. He was worried that society would become increasingly segmented, wealth inequality would explode and poverty would increase. In the end, it all degrades into a freakin mess where nobody is making pie and everyone is fighting like hell for the pie that is already there.
Now, stop for a moment and think about that. Firms are more concerned about generating additional rents instead of creating new products and services. Now think about McDonalds. Who are we kidding. They are having problems. What is this, their third CEO in five years or less? What got McDonald's started? What made them explode?
Innovation. Their "fast food", cheap, and most importantly, consistent quality, was a new innovation. Now tell me, when was the last time McDonald's was innovative? The dollar menu, a copy. Gourmet coffee, chasing Starbucks. All day breakfast, yep--another copy of a competitor. Kiosks, all kinds of gas station truck stop chains have been doing it for years. Table service, are you kidding me.
Nothing, they have had nothing. Mostly, because they have not had to be innovative. Much more rewarding to seek more rents. Now, they got a bunch of rent seeking experts and no innovators.