Copyrights and patents don’t exist for the purposes of maximum economic value extraction for inventors and authors.

They exist to maximize the production of scientific and artistic works and do so by incentivizing creators with a limited exclusionary property right over the created work.

If the goal of this particular section were to maximize what authors and inventors can extract from their creations then explicitly assigning to them the property rights in perpetuity of said creations would have been the way to ensure that outcome.

Given that they specifically wrote "by securing for limited Times" it is entirely reasonable to make this interpretation and I'm not sure why you weren't taught this interpretation in law school -- it's a pretty settled thing and there have been many times that this subject has come up in US courts over the years.

And this isn't so whack if you stop and think about it. There are all kinds of limitations on intellectual property rights.

Like take trade secret protection for exampple -- it has no term limit and no disclosure requirement. If maximum extraction were the goal then patents would look like trade secrets. Instead the bargain that the patent system forces on creators requires them to publish their invention and then hands the rights to that invention to the public after a finite period of time. The system is explicitly designed to be less extractive compared to others on purpose.

And if copyright is built for maximum extraction why does it carve out an affirmative defense in the form of fair use for others to use copyrighted works without paying? Same with first sale, same with the idea/expression dichotomy -- so much of the antisocial contemporary intellectual property regime is configured around providing people free access to the use of intellectual property.

> There is quite literally no other reason for granting a copyright or patent.

"To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries."

It seems pretty clear to me from that sentence that the stated purpose of these laws was to drive the creation of science and art and that a limited time profit incentive being enshrined in law was merely a carrot to create an incentive for that.

The framers understood the complex interplay between property rights, freedoms, and incentives in driving innovation and creation.

Knowing that granting someone an exclusive right to something that isn't subject to finite physical limitations effectively denies everyone else in society that same right the framers still understood that it was necessary to abridge the freedoms of some to enrich society as a whole through the development of science and art.

In choosing to use the words "for limited times" the framers encoded the economic priority of the majority of society over the economic priority of the minority of creators into this section but they also did not give a specific time which to me speaks to their understanding of the complexity the interplay between all the factors and allowed for the possibility that they could change over time.

On damages: that's a non-sequitur. How a system enforces an entitlement once created tells you nothing about why it was created. Tort damages compensate plaintiffs but nobody woudl say that tort law exists to maximize plaintiff recovery.

It isn't in dispute that people respond to incentives. That's precisely why the size of the incentives and the configuration of the incentive structure matters and why we have things like term limits and fair use.

The Last MPEG-4 Visual Patent Has Expired