This paper examines China’s transition from pharmaceutical “free rider” to global innovator over the last decade. In 2010, China accounted for less than 8% of global clinical trials; by 2020, it had surpassed the US in annual registered clinical trial volume. To study this transformation, we compile a comprehensive, synchronized database spanning the pharmaceutical drug…
The rise of China as a global innovator in pharma (incentives matter)
The rise of China as a global innovator in pharma (incentives matter)
26 Mar 2026 Leave a comment
in development economics, entrepreneurship, growth miracles, health economics Tags: drug lags
The Covid inquiry’s verdict nobody quite wants
13 Mar 2026 Leave a comment
in economics of regulation, health economics, politics - New Zealand Tags: economics of pandemics
The final phase of the Covid inquiry is out, and almost nobody will be fully happy with what it says. The report says New Zealand got plenty right, but it also lays out a string of failures, blind spots and overreaches. It is neither the devastating indictment that opponents of the Labour government wanted, nor […]
The Covid inquiry’s verdict nobody quite wants
Covid-19 Royal Commission report released
10 Mar 2026 Leave a comment
in Alfred Marshall, comparative institutional analysis, economics of bureaucracy, economics of natural disasters, economics of regulation, health economics, politics - New Zealand, Public Choice Tags: economics of pandemics
The Royal Commission has released their second and final report. Some key aspects: Simeon Brown points out: The post Covid-19 Royal Commission report released first appeared on Kiwiblog.
Covid-19 Royal Commission report released
Travel advice for vapers
03 Mar 2026 Leave a comment
in economics of regulation, health economics, international economics Tags: nanny state
The Telegraph has written a guide for vapers travelling to parts of the world that are even more hostile to e-cigarettes. I am quoted in it. Christopher Snowdon, head of lifestyle economics at the Institute of Economic Affairs and editor of the Nanny State Index, which ranks countries by how much they interfere with people’s lifestyle…
Travel advice for vapers
It Has Become Cheaper to Lose Weight
28 Feb 2026 Leave a comment
in economics of regulation, entrepreneurship, health economics, industrial organisation Tags: creative destruction
Finding out that GLP-1 drugs can help reduce weight has been life changing for many and could stem the social costs of being overweight. Recently, prices have fallen dramatically. I asked ChatGPT to for some summary data for Wegovy & Zepbound which I plot below. Competition matters. Initially, Wegovy was the effective monopolist selling at a list price…
It Has Become Cheaper to Lose Weight
Competition, elasticity and weight-loss drugs
27 Feb 2026 Leave a comment
in applied price theory, health economics, industrial organisation
See The Weight-Loss Price Wars Are Breaking Big Pharma’s Business Model: Prices for GLP-1s are falling fast and forcing companies to adapt by David Wainer of The WSJ.”Two years ago, a GLP-1 prescription could cost an uninsured patient more than $1,000 a month. Today, Novo Nordisk’s Wegovy pill starts at just $149 through cash-pay programs.””Typically, drug…
Competition, elasticity and weight-loss drugs
Jesse Singal’s op-ed in the NYT: A turning point in “affirmative care”?
27 Feb 2026 Leave a comment
in economics of education, health economics, liberalism, Marxist economics, politics - USA Tags: sex discrimination
For two reasons I think that Jesse Singal‘s long op-ed (really a “guest essay”) in today’s NYT will mark a turning point in public and professional attitudes towards “affirmative care.” First, the NYT saw fit to publish a piece showing that many American medical associations have promoted “affirmative care” of gender-dysphoric adolescents, despite those associations…
Jesse Singal’s op-ed in the NYT: A turning point in “affirmative care”?
The rise and fall of British gambling
18 Feb 2026 Leave a comment
in economic history, economics of regulation, health economics
Most people know that the number of drinkers and smokers is in decline in the UK, but you might be surprised to hear that the same is true of gamblers. For the first time since the early 1990s, gamblers are in the minority with only 48% of English adults engaging in any gambling activity in…
The rise and fall of British gambling
Two killers who shouldn’t get parole
12 Feb 2026 Leave a comment
in law and economics, health economics, economics of crime Tags: crime and punishment
The Herald reports on Scott Watson: That’s a pretty good sign that Watson shouldn’t be released. Unprovoked violence. And they also report on Clayton Weatherston: The reports referred to his diagnosis of narcissistic personality disorder – specifically characterised as “gross narcissism”. They also mentioned “psychopathy” and categorised Weatherston as being a high risk of reoffending. …
Two killers who shouldn’t get parole
NYRB article attacks the biological definition of sex holding with definitions based on self-identification
12 Feb 2026 Leave a comment
in discrimination, economics of education, economics of regulation, gender, health economics, law and economics, liberalism, Marxist economics, politics - USA, property rights Tags: political correctness, sex discrimination, regressive left
I used to subscribe to the New York Review of Books, which, while sometimes a repository for boring academic cat-fights, often included engaging and illuminating articles—until fabled editor Bob Silvers died in 2017. Now, under the leadership of editor Emily Greenhouse, the magazine, always Left-leaning, seems to have become more progressive. The article by gender…
NYRB article attacks the biological definition of sex holding with definitions based on self-identification
Trump’s Pharmaceutical Plan
07 Feb 2026 Leave a comment
in applied price theory, health economics, politics - USA Tags: price discrimination
Pharmaceuticals have high fixed costs of R&D and low marginal costs. The first pill costs a billion dollars; the second costs 50 cents. That cost structure makes price discrimination—charging different customers different prices based on willingness to pay—common. Price discrimination is why poorer countries get lower prices. Not because firms are charitable, but because a…
Trump’s Pharmaceutical Plan
Real Environmental Crisis Is Not Climate Change
01 Feb 2026 1 Comment
in development economics, economics of climate change, energy economics, environmental economics, environmentalism, global warming, growth disasters, health economics Tags: climate activists, climate alarmism, public health, water pollution
The real environmental emergency isn’t the modest warming that has helped humans thrive. It’s land degradation, poisoned water and other forms of pollution that are burying the Global South alive. Yes, we’ve been fighting the wrong environmental war.
Real Environmental Crisis Is Not Climate Change
Waking up to the reality of tobacco’s black market
25 Jan 2026 Leave a comment
in applied price theory, economics of regulation, health economics, politics - Australia Tags: economics of smoking
There’s a website called Tobacco in Australia: Facts and Issues which is written by a few anti-smoking activist-academics. It provides lots of tobacco-related statistics and a bit of editorialising. The website has a whole section devoted to criticising “industry estimates of the extent of illicit trade in tobacco”. It is an article of faith in tobakko…
Waking up to the reality of tobacco’s black market
The black market crisis in tobacco
16 Jan 2026 Leave a comment
in economics of crime, economics of regulation, health economics, law and economics, politics - New Zealand Tags: economics of smoking
A comprehensive article in the SST about the rise in black market tobacco sales in NZ. Some extracts: This is again a reminder that prohibition doesn’t work, and neither does trying to tax something so much to prohibit it.
The black market crisis in tobacco
Utopia, you are standing in it! 
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