Patent Monopolies: The Solution to the Coming Debt Crisis

I see that five former Democratic chairs of the Council of Economic Advisers warned of an impending debt crisis in a column in the Washington Post. They tell us that current and projected future levels of deficits and debts will soon send interest rates soaring, crashing the economy. While I am skeptical about the basic proposition for a number of reasons, perhaps most importantly Japan's persistently low interest and inflation rates, in spite of a debt to GDP ratio that is two and a half tim...