Abolish copyright and patent law?

I am currently reading James Boyle’s The Public Domain, which is one of an increasing number of compelling books and law review articles that caution intellectual property policy makers to consider the negative effects of the ever increasing scope of protection for rights holders.  James Boyle is no anti-IP crusader.  He believes IP law performs an important role in innovation if conceived and implemented correctly.  No author I have read has gone so far as to suggest the abolition of patent and copyright laws, until now.  It appears that Professors Michele Boldrin and David K. Levine, two economists from Washington University in St. Louis, are making that very argument in their book Against Intellectual Monopoly.  I say that it “appears” that they are making this argument, based on the statement in their video press release that, “from a public policy view, we’d ideally like to eliminate patent and copyright laws altogether.”

I haven’t read their book yet, but it appears that their argument is a little more nuanced.  The book seems to be primarily about making the case that the current intellectual property scheme for copyrights and patents is broken beyond repair, is stifling innovation and creativity, and should be radically restructed.  I wonder if they have given much thought to the types of business models that may transform industries that have traditionally relied on IP law, as alluded to in Cory Doctorow’s recent essay which I blogged about here:  https://askinnerlopata.wordpress.com/2009/02/22/the-death-of-traditional-media/?

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