Hello complex question; imagine I invest a lot of money into GMOing fruits to taste like candy and be more nutritious at the same time, like caramel flavored apples, I believe I can consolidate a large share of the market outside of those who are anti-GMO because they are anti-science. Simply because they taste much better than the original, is the same or more nutritious, and it can make kids much more likely to eat fruits instead of candy. I spend say $50 million, and grab a couple of patents. How do I prevent my invention from getting stolen by China and then they just reverse engineer or just simply just grab the seeds to replant them? I believe nations like China would not care and would do it anyway.

    Additionally, let’s say we’re doing free trade, which I support the most, and I am Brazil and I sell coffee and BANANA; what do I do if people in Hawaii and/or Florida start growing my coffee and bananas, undercutting me by proximity which removes a lot of costs. Sorry for the long question but can some of you give me detailed explanations on what can be done, should be done, and if you study institutional economics can you explain what might happen to nations who ignore patents? Should this be a narrow case where protectionism with tariffs are a viable solution to countries who ignore patents?

    Small note: every nation/area in the world has its unique resources and agricultural goods, Arabia has nice materials for making perfume; I think it’s called oud, but if we’re gonna have free trade, how do you prevent someone from growing the food after selling it to a foreign country themselves? Which would tank exports

    How do you prevent yours or your nation’s resources, inventions, and intellectual work from being diffused?
    byu/AdamSmithery inAskEconomics



    Posted by AdamSmithery

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