What should we think of intellectual property (IP) laws?

When I say 'we' I guess I mean anyone interested in individual liberty and general prosperity. (pic via Mises.org)

This is a subject that I keep meaning to read more about but have yet to. Then a couple of days ago I see this wonderful review of a new book, the review written by Mr. Jeffrey Tucker. As a strong believer in private property rights my initial reaction is to defend the idea of IP. Using pharmaceutical patents as a classic example ... the idea is that the protection gives incentive to innovation that might not otherwise happen. Though I have wondered, is 17 years too short, too long? How would we know?

I do know that within the libertarian and Austrian economic worlds there is a strong undercurrent of dislike for IP laws. This new review from Mr. Tucker has caused me to bump this new book to the top of my reading queue.

As an aside, how does the discussion differ for copyrights as opposed to patents? Food for thought.

A Book that Changes Everything - Jeffrey A. Tucker - Mises Institute: "At a taped video interview in my office, before the crew would start the camera, a man had to remove my Picasso prints from the wall. The prints are probably under copyright, they said. But the guy who drew them died 30 years ago. Besides, they are mine. Doesn't matter. They have to go."

Misc. links:
Marginal Revolution: Against Intellectual Monopoly
Cato Institute: Against Intellectual Monopoly
Against Intellectual Monopoly - Mises.org
Against Monopoly
Jeffrey Tucker: Archives (LRC)
Daily Article archive for Jeffrey A. Tucker (Mises)