Strong Steam, Weak Patents, or the Myth of Watt’s Innovation-Blocking Monopoly, Exploded

2011/11/01 by George Selgin, John L. Turner · 1 citation
Business, Management and Accounting · Economics, Econometrics and Finance · #Intellectual Property and Patents #Economic Theory and Institutions

paper · doi:10.1086/658495

openalex publication_date 2011/11/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/06/11

Abstract

James Watt’s 1769 patent is widely supposed to have stood in the way of the development of high-pressure steam technology until it finally expired in 1800. We dispute this popular claim. We show that although it is true that high-pressure steam technology developed only after the expiration of Watt’s patent, the delay was due to factors other than that patent itself, including the widely held opinion that the use of high-pressure engines were excessively risky. Indeed, Watt’s monopoly rights may actually have hastened the development of the high-pressure steam engine by inspiring Richard Trevithick to revive a supposedly obsolete technology so as to invent around them.

Citations

• On the Complex Economics of Patent Scope
• Standing on the Shoulders of Giants: Cumulative Research and the Patent Law
• Sequential innovation, patents, and imitation

Cited by

• Industrial Revolution [wikipedia]

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