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by kohanz 3087 days ago
Legacy and providing for your offspring is a huge motivation for many people. It's interwoven through all aspects of our society. Why should it be ignored here? To say it's not a "strong" motivation for older people misses the mark, IMHO. It may not be a motivation for you (at this point in your life, or forever), but that doesn't mean it's not a significant factor.

Again, you're essentially saying that older people don't need as much incentive as younger people to create, which I don't necessarily agree with.

2 comments

Plenty of economists have negative views about inherited wealth, and the negative sociological and economic effects of inheritance inequality that result. Copyright goes beyond wealth -- it is a defacto monopoly on creative work that the public cannot benefit from without paying someone for the privilege of usage.

Although you are taking the "family" viewpoint, the reality is that copyright more atypically tends to be shuffled around and bought up by large rent-seekers corporations. Many times, the original artist's descendants don't even make a penny. Example: Before invalidated in 2015, who benefited from the strange copyright on "Happy Birthday"? Was it the ancestors of the originators (Mildred J. Hill at the most direct, but probably with several other hands involved before it morphed into its familiar form)? No, it was Warner/Chappell Music.

To me, it would be very hard to argue that the benefits of extended copyright at this point. It's a form of rent-seeking, an activity many economists have problems with. (It was actually pretty easy to find an economist -- a Nobel winner -- blasting rent-seeking. Nobel winner Angus Daton did so here for instance around the 30 minute mark -- https://www.c-span.org/video/?424924-5/national-association-.... It was more in the context of our broken health care system, but similar issues apply with government-sanctioned monopolies of creative works.)

Then people should save money they made from their works and pass it to their children. I've never heard of someone continuing to work after their death to provide for their children, which is what the current copyright system basically amounts to.
What about passing on an income generating asset (real estate, dividend portfolio) to children?
I think it should be at least heavily taxed and wouldn't be very much opposed to it not actually passing down.