Patentism Replacing Capitalism

A Prediction from Logical Economics

  • Samuel Meng

Table of contents

  1. Front Matter
    Pages i-xxx
  2. Samuel Meng
    Pages 1-18
  3. Samuel Meng
    Pages 89-183
  4. Samuel Meng
    Pages 589-601
  5. Back Matter
    Pages 603-609

About this book


Based on economic knowledge and logical reasoning, this book proposes a solution to economic recessions and offers a route for societal change to end capitalism. The author starts with a brief review of the history of economics, and then questions and rejects the trend of recent decades that has seen econometrics replace economic theory. By reviewing the different schools of economic thought and by examining the limitations of existing theories to business cycles and economic growth, the author forms a new theory to explain cyclic economic growth. According to this theory, economic recessions result from innovation scarcity, which in turn results from the flawed design of the patent system. The author suggests a new design for the patent system and envisions that the new design would bring about large economic and societal changes. Under this new patent system, the synergy of the patent and capital markets would ensure that economic recessions could be avoided and that the economy would grow at the highest speed.


Economic growth Recessions Cyclic economic growth Capitalism Patents Multi-commodity model Innovation

Authors and affiliations

  • Samuel Meng
    • 1
  1. 1.Griffith UniversityBrisbaneAustralia

Bibliographic information

  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2019
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-030-12246-1
  • Online ISBN 978-3-030-12247-8
  • Buy this book on publisher's site