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U. Pagano and M.A. Rossi (2009) have advanced a hypothesis that states that, 'the crash of the knowledge economy is due to the intellectual monopolies, i.e. the huge protection inherent to Intellectual Property Rights (IPRs). The authors have stated - the institutions, which are facilitating IPRs are responsible for the crash. According to the authors, IPRs have acted as 'super - tariffs' as they have raised the cost of investment for countries that had neither abundant cheap labour nor high amounts of IPR resources. The IPRS may have subsequently exerted negative effect even on IP (Intellectual Property) rich firms or the conflicting rights of the firm may affect each other's investments and result in a situation of a savings glut. Therefore, the authors suggested - "if intellectual monopolies are one of the causes of the crash, the remedies should not only focus on monetary policy, financial regulation or even on standard Keynesian policies, rather regulation should be made to decrease the level of intellectual monopolization of economy". The policy measures they propose, however, aimed at redressing the balance between public and private knowledge, would not only have strong short - run super - multiplicative effects but would have long - run benefits as well.