IP is going to be the foundation of any future economy.
IP is just various monopoly rights. See the former Soviet union on how well monopolies work. Monopolies are antithetical to an effective economy and thus will not be a foundation, but a burden.
it'll be up to our inventions and our software and our innovation in exporting ideas
Please. IP is mainly good for extracting resources out of an economy, it has nothing to do with 'exporting'. Implementing IP laws is a net loss for any economy, and most of the time (certainly in the case of the US), the monopoly rights will be held by foreign corporations.
The only way forward is to make western economies competitive again. Repealing at the very least copyright and patents would be a good start towards reestablishing a highly competitive free market and lowering the burden on western labour (thus reducing their price).