Re: For a contrasting view...
@"Your underlying premise" the premise is not that nothing new will be invented rather why would anyone bother when you they patent existing tech without having to do any of the expensive research.
The patent system as it currently stands( and especially in the US) does not do enough to confirm the novelty of new patents before issue and hence they are simply a method to obtain unwarranted market control and money for solicitors.
For patents to be fixed the first thing they they need to do is change the system so that any proven lack of novelty can instantly invalidate a new patent and without the need to go to court. That way new patents will be written with a much tighter scope so as to limit the patent to only that which is known to be novel and solely developed by the new patent holder. The patent system also needs to be centralised and equally open to all whilst standing apart for local legal systems, this to prevent the existing situation where some country's promote their own over outsiders to gain unfair monopolies on other's work and forcing the actual inventors to go to court in the country that screwed them over.
Whilst all the above is reasonable you can guaranty that the above with never be enacted because since early on patents have been used not to protect inventors but to make invention ownership about who already has the most money. Until this situation is fixed then patents are never going to be fair, reasonable or about promoting innovation, they will instead continue to keep the inventors down whilst making the non-inventors richer