Patents Key to Reducing Poverty?

Two recent studies suggest that patents have a key role to play in raising state per capita incomes and overcoming persistent poverty. A working paper published almost a year ago by two staffers of the Federal Bank of Cleveland and professor Scott Shane of Case Western University, suggests that patents and high school/university graduation rates are the most important determinants of per state capita income. A more recent study by researchers at the Univ. of Kentucky’s Center for Business and Economic Research reaffirmed the Case Western’s findings. (Reported in the SSTI Weekly Digest.)

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