Don't agree. There are strict laws even harmonized in the whole world. See WIPO.
And the law enforcement is sctrict too, but inly that case if the owner (or the successor, other interested person) makes a lawsuit.
In US it is a civil suit or case, but e.g. in Hungary this is a crime.
BTW: I don't know what do yku mean under "Austrian school of econimics". Is is a specific thing?
I have nothing to do with Austria, that is another country