"Private ownership usually creates wealth. But too much ownership has the opposite effect—it creates gridlock. When too many people own pieces of one thing, cooperation breaks down, wealth disappears . . . everybody loses. Gridlock is a free market paradox. There has been an unnoticed revolution in how we create wealth. In the old economy, ten or twenty years ago, you invented a product and got a patent; you wrote a song and got a copyright; you subdivided land and built houses. Today, the leading edge of wealth creation requires assembly. From drugs to telecom, software to semiconductors, anything high-tech demands the assembly of innumerable patents. And it's not just high tech that's changed—today, cutting edge art and music is about mashing up and remixing many separately-owned bits of culture. Even with land, the most socially-important projects, like new runways, require assembling multiple gridlocked parcels. Innovation has moved on, but we are stuck with old-style ownership that's easy to fragment and hard to put together."