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Nabaza.net-The MarketPlace - The Gridlock Economy: How Too Much Ownership Wrecks Markets, Stops Innovation, and Costs Lives
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List Price: $26.00
Our Price: $17.16
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Manufacturer: Basic Books
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Average Customer Rating:  
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Binding: Hardcover
Dewey Decimal Number: 330.17
EAN: 9780465029167
ISBN: 0465029167
Label: Basic Books
Manufacturer: Basic Books
Number Of Items: 1
Number Of Pages: 304
Publication Date: 2008-07-07
Publisher: Basic Books
Studio: Basic Books
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Editorial Reviews:
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25 new runways would eliminate most air travel delays in America. Why can’t we build them? 50 patent owners are blocking a major drug maker from creating a cancer cure. Why won’t they get out of the way? 90% of our broadcast spectrum sits idle while American cell phone service lags far behind Japan’s and Korea’s. Why are we wasting our airwaves? 98% of African American–owned farms have been sold off over the last century. Why can’t we stop the loss? All these problems are really the same problem—one whose solution would jump-start innovation, release trillions in productivity, and help revive our slumping economy. Every so often an idea comes along that transforms our understanding of how the world works. Michael Heller has discovered a market dynamic that no one knew existed. Usually, private ownership creates wealth, but too much ownership has the opposite effect—it creates gridlock. When too many people own pieces of one thing, whether a physical or intellectual resource, cooperation breaks down, wealth disappears, and everybody loses. Heller’s paradox is at the center of The Gridlock Economy. Today’s leading edge of innovation—in high tech, biomedicine, music, film, real estate—requires the assembly of separately owned resources. But gridlock is blocking economic growth all along the wealth creation frontier. A thousand scholars have applied and verified Heller’s paradox. Now he takes readers on a lively tour of gridlock battlegrounds. Heller zips from medieval robber barons to modern-day broadcast spectrum squatters; from Mississippi courts selling African-American family farms to troubling New York City land confiscations; and from Chesapeake Bay oyster pirates to today’s gene patent and music mash-up outlaws. Each tale offers insights into how to spot gridlock in operation and how we can overcome it. The Gridlock Economy is a startling, accessible biography of an idea. Nothing is inevitable about gridlock. It results from choices we make about how to control the resources we value most. We can unlock the grid; this book shows us where to start.
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Spotlight customer reviews:
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Customer Rating:
Summary: How overly granular ownership creates mirror problems to when there is no ownership
Comment: This is a fascinating book. Michael Heller says he got the key insight to the problem he describes in this book in the faulty way the old Soviet Union tried to create private property upon its dissolution. For example, let's say you have been operating a store and with the return of private property, you might expect that you would either get the store or be able to buy it from the state or some such process that would let you continue operating the store. However, you forget that all those Soviet bureaucrats have to get property too! So, some people formerly with the government would also be assigned rights of ownership to the property and your store. This means all of you need to share in its profits and must agree on how it is to be operated. Unfortunately, this also empowers the owners who have no real interest in working the store. They will demand to be bought out in order to let the store function. So, the store cannot function and will be closed with the building sitting vacant. Was society improved by this process?
We all know about the problem of commons. Say there was a well producing apple orchard that we turn into a park that no one owns and everyone can use as they see fit. Will the apple trees be tended to? Will the apples be disturbed to those who need it? Or will the trees be untended, the apples taken by those who want to hoard or sell them, or might the trees be cut down for their wood? All we know is that the orchard will be destroyed. Private property, rightly assigned, can protect resources by those who have an interest in their continuing. When ownership becomes too granular, what Heller calls anticommons, it freezes assets and keeps them unused just as surely as the commons problem does. If that apple orchard were owned equally by 1,000 people who each had a portion of each tree, gridlock would set in because nothing could be decided and nothing would be done to care for, harvest, or use the tree productively.
The author uses many real life business stories to illustrate his points. I found his arguments interesting and very much worth thinking about. His central examples focus on the way our current patent laws for medicines and pharmaceutical manufacturing prevent the creation of new and beneficial medicines. He also shows why our radio spectrum is mostly empty because of the crazy way we license it. The United States is far behind in the products and services available in our telephones, TVs, radios, and other uses of this precious resource. Leaving it unused is just as silly as overuse. We also get a tour of how less than optimal private solutions are created when government creates either a commons or an anticommons problem. Heller then takes us to Moscow and shows us the mess there and offers some steps we can take to fix problems in our own economy.
Good reading.
Reviewed by Craig Matteson, Ann Arbor, MI
Customer Rating:
Summary: Illuminates what Econ 101 leaves invisible...
Comment: An excellent book. The chapter on Russia's efforts to adopt property rights in the retail and apartment markets alone is worth the price.
Heller's main thesis is that too much ownership can work to 'gridlock' economic progress, investment and innovation. This is explored in how granting too large a bundle of rights for patents has hobbled many high-technology, biotechnology and pharmaceutical development efforts, threatening U.S. prosperity and consumer well-being.
Also, a fine chapter on how U.S. radio spectrum, subject for decades to FCC over-specification of permissible uses and politically-constrained allocation practices, is presently a mostly-wasted public resource.
Customer Rating: 
Summary: Great read
Comment: I enjoyed reading this book. A lot. I've worked in the high-tech business and can vouch for many of the things presented throughout the pages. I did find that the book repeated many points, seemingly unnecessarily, and I do wish that more time would have been spent on ideas for how to solve the problems that exist.
Customer Rating:
Summary: Changes the way we see the world
Comment: Every once in a while a gifted academic writes a book about a technical subject that changes the way the lay public sees the world. Michael Heller has written such a book. The Gridlock Economy illuminates by giving language to a phenomena that is all around us but we've had no word for. The stories he tells are chilling and heart wrenching. But he gives us hope as well. By describing gridlock and why it happens - the word he coins is "anticommons" - Professor Heller lead the way to creative problem solving. This book is a must read for policy makers in all fields.
Customer Rating:
Summary: Heller's Gridlock
Comment: Michael Heller's Gridlock Economy is this year's must-read popular economics book. As reviewers at Slate, Time, and elsewhere have noted, Heller's book compares well to 2005's mega-hit Freakonomics, as well as Malcolm Gladwell's Blink, James Surowiecki's (of The New Yorker) The Wisdom of Crowds, and Chris Anderson's The Long Tail.
Gridlock Economy shares two important characteristics with those books: a compelling central organizing idea and great writing. The central organizing idea is that "too much ownership" can stifle economic innovation. By "too much ownership," Heller is referring to the kind of situation that arises with increasing frequency across all the key sectors of the new economy including biotechnology, software, computer hardware, music, movies, and finance. Our efforts to promote innovation by granting patents and copyrights (and other government-sponsored forms of intellectual property protection) can often come back to bite us.
Heller provides dozens of interesting examples across the entire range of the new economy. His lead example involves the difficulties that a researcher at a big drug company is having pursuing a promising cure for Alzheimers. To make headway, the researcher needs to purchase or license a host of patents held by a not small number of competitors. Our current patent system gives --for better and, in this case, for worse-- gives each patent holder involved the capacity to hold up this important research. If we're lucky an entrepreneurial "patent bundler" will come along and piece together the necessary patents and licenses. Meanwhile, we're stuck in Heller's gridlock.
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