Earlier quoted context omitted.
How would you suggest society repay the guy who invented the material? I can't think of any way except a temporary monopoly on its use.
The problem is that as it stands now, someone like Intellectual Ventures will have a patent like "cooling metal with water", and either force him to sell for a few hundred bucks or just interfere with anyone else who actually tries to do this. It'll be 20 years before anyone figures out a way through all of the legal mess and starts production. Even then, it will cost more, not less thanks to this.
It strikes me that many of the folks who most stridently object to patent law don't actually know much about it.