The Constitution established an intellectual property regime that balances promotion of innovation and economic growth with the need for open and competitive markets. A well-functioning patent system is increasingly important in a global economy where technological innovation, rather than tangible assets or market share, are what make or break a company. In aggregate, these innovative companies build the wealth of nations.
Fred Smith is the animating spirit at the Competitive Enterprise Institute. Fred conceived of the idea for an organization that would, in his words, “find a more positive answer to the challenge Joseph Schumpeter laid down in his essay, “Can Capitalism Survive?” He founded the organization and served as president for nearly three decades.
He died at the age of 83 at home in Maryland where he is survived by his beloved wife Fran. Fred was a friend and mentor, an advocate and ally, and an inspiration. His bright light lives on in our work.
Fred Lee Smith
December 26, 1940 – November 23, 2024