I think you over estimate how many would stop creating and sharing ideas in the face of it. A few stubborn souls may drop out, but the majority would continue, and many more would join in this more commons oriented approach to ideas. The inventor or the author who refuses to share his work with the world if he cannot profit by it simply get left behind.
I point to the FLOSS scene as an example in my favor. Put aside whatever you may think about that motley collection of programmers personally, or even whatever odious traits they may possess. You cannot accuse them of being possessive of their work, at least not to the extent of demanding profit. That much is laudable.
