] More generally, in the realm of physical production,
] where scarce resources are critical inputs, each
] additional unit of output is usually more costly to
] produce than the previous one; that is, production, at
] least eventually, is characterized by increasing marginal
] cost. By contrast, in the realm of conceptual output,
] much of production is characterized by constant, and
] perhaps even zero, marginal cost.

Greenspan raises the idea that intellectual property laws may not be properly fitted. This is awesome. I've been writing about this for years. Most people just don't get it. Now I have a reference that will make people shut up and think.

FRB: Speech, Greenspan--Intellectual property rights--February 27, 2004