"An extraordinarily lucid and engaging exposition of our patent system: why we need it, where it came from, how it works, what is wrong with it, and how to fix it. Indispensable for anyone interested in the role of intellectual property rights and technological change in our economy. Whoever said economists cannot write well?"--Joel Mokyr, Northwestern University"Jaffe and Lerner's arguments are persuasive and their recommendations sensible. The book makes a very significant contribution to the current debates on patent policy."--Bronwyn Hall, University of California, Berkeley"This is a valuable and timely book by two highly regarded experts in the field. It is an extremely well-written and well argued work that shows how the patent system has evolved in disturbing ways over the past two decades."--Brian Kahin, University of Michigan"Patents are at the heart of the process of economic growth, and the process is suffering from a powerful form of cardiac disease. This fascinating book provides an illuminating diagnosis as well as compelling therapy. Its findings have towering importance, not just for lawyers and economists, but for the future standard of living of us all."--Peter L. Bernstein, author of "Against the Gods: The Remarkable Story of Risk"Lerner, Josh is the author of 'Innovation and Its Discontents How Our Broken Patent System Is Endangering Innovation and Progress, and What to Do About It', published 2006 under ISBN 9780691127941 and ISBN 0691127948.