Earlier quoted context omitted.
People like to say that without patents there will be no incentive to advance technology, but if you're the one to come up with an idea then you already have a huge head start. If you don't make use of that head start, then you don't deserve it, and this applies to patents as well. Monopolies are bad, and competition is good. Everyone is already incentivized to come up with and implement ideas faster than their compe…
In practice you'll have a head start of maybe a year before a grifter in China replicates your three years of R&D and floods the market. And a copied product will always be cheaper as they don't have to amortise development costs. That's how technology worked before the patent systems, and the outcome was manufacturer secrecy - which generally sucked more than the patent system.
A perfect counter-example to patents is FDM printers, which were incredibly expensive and inaccessible to the average hobbyist until the Stratasys patents started to expire. Now while it’s true there’s a lot of Chinese printers on the market, that hasn’t killed western companies - Pruša might be 2x-3x pricier than a Creality, but the 3D printing farms I know still went with the former, due to higher reliability and the fact that they need less fiddling to produce high quality outputs.
Meanwhile Stratasys is still selling $100k machines, and I highly doubt any of their customers would rather buy a cheap Chinese 3D printer instead.