The era of multilateral trade liberalization seems to be nearing an end (at least for a while), as well-founded disillusionment in the developing cou… - Joseph E. Stiglitz

We need to distinguish between incentives at the organizational level and at the individual level, though some of the problems in designing incentive structures are common to both. We need to ask how, for the kinds of activities the public sector engages in, the organization is rewarded for "success" or punished for lack of it, and how individuals are similarly rewarded and punished.

One of the reasons that basic research is advanced most by not resorting to intellectual property is that while doing so would have questionable benefits, the costs are apparent. [...] Interestingly, even in software, this system of open collaboration has worked. Today we have the Linux computer operating system, which is also based on the principle of open architecture.

Limited liability should not be sacrosanct. Like property rights—including intellectual property—it is a creation of man, to provide appropriate incentives; when that artifice fails to fulfill its social function, it needs to be modified.