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http://ssrn.com/abstract=1757982
 
 

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Rules for Growth: Promoting Innovation and Growth Through Legal Reform


Robert E. Litan


Ewing Marion Kauffman Foundation; AEI-Brookings Joint Center for Regulatory Studies

Yochai Benkler


Harvard University

Henry N. Butler


George Mason University School of Law

John Henry Clippinger


Massachusetts Institute of Technology (MIT) - Human Dynamics Group

Robert Cook-Deegan


Duke Institute for Genome Sciences & Policy

Robert D. Cooter


University of California, Berkeley - School of Law

Aaron S. Edlin


University of California at Berkeley; National Bureau of Economic Research (NBER)

Nicole Stelle Garnett


Notre Dame Law School

Ronald J. Gilson


Stanford Law School; Columbia Law School; European Corporate Governance Institute (ECGI)

Oliver R. Goodenough


Vermont Law School; Harvard University - Berkman Center for Internet & Society

Gillian K. Hadfield


USC Law School and Department of Economics

Mark A. Lemley


Stanford Law School

Frank Partnoy


University of San Diego School of Law

George L. Priest


Yale University - Law School

Larry E. Ribstein (Deceased)


University of Illinois College of Law; PERC - Property and Environment Research Center

Charles F. Sabel


Columbia University - Law School

Peter H. Schuck


Yale University - Law School

Hal S. Scott


Harvard Law School

Robert E. Scott


Columbia University - Law School

Alex Stein


Yeshiva University - Benjamin N. Cardozo School of Law

Victoria Stodden


Columbia University - Department of Statistics

John E. Tyler III


Ewing Marion Kauffman Foundation

Alan D. Viard


American Enterprise Institute

Benjamin Wittes


affiliation not provided to SSRN

February 8, 2011

Yale Law & Economics Research Paper No. 426
Stanford Law and Economics Olin Working Paper No. 410
UC Berkeley Public Law Research Paper No. 1757982

Abstract:     
The United States economy is struggling to recover from its worst economic downturn since the Great Depression. After several huge doses of conventional macroeconomic stimulus - deficit-spending and monetary stimulus - policymakers are understandably eager to find innovative no-cost ways of sustaining growth both in the short and long runs.

In response to this challenge, the Kauffman Foundation convened a number of America’s leading legal scholars and social scientists during the summer of 2010 to present and discuss their ideas for changing legal rules and policies to promote innovation and accelerate U.S. economic growth. This meeting led to the publication of Rules for Growth: Promoting Innovation and Growth Through Legal Reform, a comprehensive and groundbreaking volume of essays prescribing a new set of growth-promoting policies for policymakers, legal scholars, economists, and business men and women.

Some of the top Rules include:
• Reforming U.S. immigration laws so that more high-skilled immigrants can launch businesses in the United States.
• Improving university technology licensing practices so university-generated innovation is more quickly and efficiently commercialized.
• Moving away from taxes on income that penalize risk-taking, innovation, and employment while shifting toward a more consumption-based tax system that encourages saving that funds investment. In addition, the research tax credit should be redesigned and made permanent.
• Overhauling local zoning rules to facilitate the formation of innovative companies.
• Urging judges to take a more expansive view of flexible business contracts that are increasingly used by innovative firms.
• Urging antitrust enforcers and courts to define markets more in global terms to reflect contemporary realities, resist antitrust enforcement from countries with less sound antitrust regimes, and prohibit industry trade protection and subsidies.
• Reforming the intellectual property system to allow for a post-grant opposition process and address the large patent application backlog by allowing applicants to pay for more rapid patent reviews.
• Authorizing corporate entities to form digitally and use software as a means for setting out agreements and bylaws governing corporate activities.

The collective essays in the book propose a new way of thinking about the legal system that should be of interest to policymakers and academic scholars alike. Moreover, the ideas presented here, if embodied in law, would augment a sustained increase in U.S. economic growth, improving living standards for U.S. residents and for many in the rest of the world.

Number of Pages in PDF File: 513

Keywords: entrepreneurship, policy, growth, rules, innovation, immigration, intellectual property, ip, university, business, federal, national, patent

working papers series


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Date posted: February 8, 2011 ; Last revised: February 20, 2014

Suggested Citation

Litan, Robert E. and Benkler, Yochai and Butler, Henry N. and Clippinger, John Henry and Cook-Deegan, Robert and Cooter, Robert D. and Edlin, Aaron S. and Garnett, Nicole Stelle and Gilson, Ronald J. and Goodenough, Oliver R. and Hadfield, Gillian K. and Lemley, Mark A. and Partnoy, Frank and Priest, George L. and Ribstein (Deceased), Larry E. and Sabel, Charles F. and Schuck, Peter H. and Scott, Hal S. and Scott, Robert E. and Stein, Alex and Stodden, Victoria and Tyler, John E. and Viard, Alan D. and Wittes, Benjamin, Rules for Growth: Promoting Innovation and Growth Through Legal Reform (February 8, 2011). Yale Law & Economics Research Paper No. 426; Stanford Law and Economics Olin Working Paper No. 410; UC Berkeley Public Law Research Paper No. 1757982. Available at SSRN: http://ssrn.com/abstract=1757982 or http://dx.doi.org/10.2139/ssrn.1757982

Contact Information

Robert E. Litan (Contact Author)
Ewing Marion Kauffman Foundation ( email )
4801 Rockhill Road
Kansas City, MO 64110
United States
AEI-Brookings Joint Center for Regulatory Studies
1150 17th Street, N.W.
Washington, DC 20036
United States
Yochai Benkler
Harvard University ( email )
1875 Cambridge Street
Cambridge, MA 02138
United States
Henry N. Butler
George Mason University School of Law ( email )
3301 Fairfax Drive
Arlington, VA 22201
United States
703-993-8644 (Phone)
John Henry Clippinger
Massachusetts Institute of Technology (MIT) - Human Dynamics Group ( email )
77 Mass. Ave
E14/E15
Cambridge, MA 02139-4307
United States
Robert Cook-Deegan
Duke Institute for Genome Sciences & Policy ( email )
Duke University, Box 90141
Durham, NC 27708-0141
United States
919 668-0790 (Phone)
919 668-0799 (Fax)
HOME PAGE: http://www.genome.duke.edu/directory/faculty/cook-deegan/
Robert D. Cooter
University of California, Berkeley - School of Law ( email )
Berkeley, CA 94720-7200
United States
510-642-0503 (Phone)
510-642-3767 (Fax)
Aaron S. Edlin
University of California at Berkeley ( email )
Dept of Economics 549 Evans Hall #3880
Berkeley, CA 94720
United States
510-642-4719 (Phone)
510-643-0413 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Nicole Stelle Garnett
Notre Dame Law School ( email )
P.O. Box 780
Notre Dame, IN 46556
United States
574-631-3091 (Phone)
HOME PAGE: http://www.law.nd.edu/faculty/facultypages/garnettn.html
Ronald J. Gilson
Stanford Law School ( email )
559 Nathan Abbott Way
Stanford, CA 94305-8610
United States
650-723-0614 (Phone)
650-725-0253 (Fax)
Columbia Law School ( email )
435 West 116th Street
New York, NY 10025
United States
212-854-1655 (Phone)
212-854-7946 (Fax)
European Corporate Governance Institute (ECGI)
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
Oliver R. Goodenough
Vermont Law School ( email )
164 Chelsea Street
P.O. Box 96
South Royalton, VT 05068
United States
802 831 1231 (Phone)
HOME PAGE: http://www.vermontlaw.edu/Our_Faculty/Faculty_Directory/Oliver_R_Goodenough.htm

Harvard University - Berkman Center for Internet & Society ( email )
Harvard University
23 Everett Street
Cambridge, MA 02138
United States
Gillian K. Hadfield
USC Law School and Department of Economics ( email )
699 Exposition Boulevard
Los Angeles, CA 90089
United States
213-821-6793 (Phone)
213-740-5502 (Fax)

Mark A. Lemley
Stanford Law School ( email )
559 Nathan Abbott Way
Stanford, CA 94305-8610
United States
Frank Partnoy
University of San Diego School of Law ( email )
5998 Alcala Park
San Diego, CA 92110-2492
United States
619-260-2352 (Phone)
619-260-4180 (Fax)
George L. Priest
Yale University - Law School ( email )
P.O. Box 208215
New Haven, CT 06520-8215
United States
Larry Edward Ribstein (Deceased)
University of Illinois College of Law ( email )
504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
217-244-9881 (Phone)
217-244-1478 (Fax)
PERC - Property and Environment Research Center
2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

Charles F. Sabel
Columbia University - Law School ( email )
435 West 116th Street
New York, NY 10025
United States
Peter H. Schuck
Yale University - Law School ( email )
P.O. Box 208215
New Haven, CT 06520-8215
United States
Hal S. Scott
Harvard Law School ( email )
1557 Massachusetts Avenue
Cambridge, MA 02138
United States
617-495-4590 (Phone)
617-495-9593 (Fax)
Robert E. Scott
Columbia University - Law School ( email )
435 West 116th Street
New York, NY 10025
United States
212-854-0072 (Phone)
Alex Stein
Yeshiva University - Benjamin N. Cardozo School of Law ( email )
55 Fifth Ave.
New York, NY 10003
United States

Victoria Stodden
Columbia University - Department of Statistics ( email )
3022 Broadway
New York, NY 10027
United States
John E. Tyler III
Ewing Marion Kauffman Foundation ( email )
4801 Rockhill Road
Kansas City, MO 64110-2046
United States
816-932-1293 (Phone)
Alan D. Viard
American Enterprise Institute ( email )
1150 17th Street, N.W.
Washington, DC 20036
United States
(202) 419-5202 (Phone)
(202) 862-7177 (Fax)
Benjamin Wittes
affiliation not provided to SSRN ( email )
Feedback to SSRN


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