Patents are far from the only factor affecting innovation, yet you seem to conclude that patents are good based on level of innovation in the US.
A logically similar argument (“fallacy of the single cause”) would be: Hawaii has a relatively low rate of gun violence yet their gun ownership is high, ergo gun ownership must be fine.
Of course some patents are good, but as market concentration increases in the US, IP has become abused by entrenched oligopolistic corporations. Most recent reputable studies find that the US patent system has probably been a net negative on innovation of late [1].
A logically similar argument (“fallacy of the single cause”) would be: Hawaii has a relatively low rate of gun violence yet their gun ownership is high, ergo gun ownership must be fine.
Of course some patents are good, but as market concentration increases in the US, IP has become abused by entrenched oligopolistic corporations. Most recent reputable studies find that the US patent system has probably been a net negative on innovation of late [1].
[1] https://www.economist.com/node/21660559