How and why The Economist published such complete and utter nonsense in its August 8th edition remains a mystery. It is outright false to say that patents played no role in advancement during the Industrial Revolution. It is even more ridiculous to claim patents played no role in the development of steam engines. Yet, these and other false claims were made, all without citation, as if they were actually true (IPWatchDog).

The U.S. economy looks much more vigorous in the second quarter than previously thought, as a report released Thursday showed businesses got off the sidelines and spent some money (MarketWatch).

Turmoil in global financial markets has reduced the chances the Federal Reserve will raise its benchmark interest rate in September, a senior Fed policy maker said this week (New York Times).