On The Commons: Markets Protecting the Environment, Jonathan Adler reinterprets the classic Dr. Seuss tale of the The Lorax:

Usually regarded as "an ecological warning that still rings true today amidst the dangers of clear-cutting, pollution, and disregard for the earth's environment," it is also a caution about the importance of institutions and property rights, and the dangers of trying to run a society as a "commons."

Now I am not suggesting for a moment that this is the interpretation Dr. Seuss intended. Yet the Lorax, like any text, is open to multiple interpretations -- and this institutional interpretation is certainly compatible with the text. As is, perhaps, another interpretation in which the Lorax is himself an owner whose property rights are ignored by an unaccountable corporation. Either way, the Lorax is easily seen a story about property rights -- or the lack thereof -- and the inevitable environmental consequences of poor institutions. Something to think about the next time you hear the Lorax mentioned in an environmental policy debate.

There are serious lessons here for IP, as well.

posted by James DeLong @ 10:18 AM | Markets: Business, Investment & Innovation

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