Hayek cited Machlup on patents and copyrights until his final book published in 1988, and Machlup cited Hayek on knowledge in his three volumes of a planned ten-volume “Knowledge Project” cut short by his death in 1983. … Because of the importance of the latter, IP becomes relatively less important as the use of knowledge always relies on a certain locally embedded set of understandings and inherited practices to be made operational. The benefits of free knowledge-flow generally outweighed the supposedly incentivizing traits of IP rights.

Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, loc. 190