TOWARD AN AUSTRIAN VIEW OF COPYRIGHT

The concept of intellectual property poses potentially difficult questions for those sympathetic to the Austrian economic viewpoint. Austrians are staunch proponents of the free market and this leads them to strongly defend private property rights. It also leads to a strong condemnation of government granted monopolies. If both of these positions are taken, then how should an Austrian view intellectual property? This paper attempts to develop a market oriented public policy position concerning copyright protection. It concludes that markets are much more efficient, and desirable, for protecting intellectual property than is the government.