How Patent Laws Are Stifling American Growth

In pharmaceuticals, existing patent laws are making it harder to develop new technologies. Photograph by Michael Fein/Bloomberg

As the battle over taxes, spending ,and sequestration rages in Washington, D.C., one answer to our mounting debt problems rarely gets a mention. Journalist David Leonhardt explains in his new book, Here’s the Deal: “A strong economy can outgrow its debt.” He suggests a number of ways we could accomplish that—not least, greater immigration to increase the number of taxpayers. That’s why, if it passes, comprehensive immigration reform is likely to be the most important piece of debt-reduction legislation of the year.

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