Celebrating humanity's flourishing through the spread of capitalism and the rule of law
31 Oct 2024 Leave a comment
in applied price theory, health economics, politics - USA Tags: health insurance
Among the major issues not being discussed in the US presidential campaign are those facing the US healthcare system. The two main concerns are well-known. One is high cost. The US economy spends about $12,500 per person on health care in 2022, according to the OECD. The second- and third-highest countries, Switzerland and Germany, spend…
A Prescription for Fixing the US Healthcare System
30 Oct 2024 Leave a comment
in applied price theory, applied welfare economics, budget deficits, business cycles, econometerics, economic growth, economic history, economics of bureaucracy, economics of regulation, energy economics, entrepreneurship, environmental economics, financial economics, fiscal policy, global warming, health economics, income redistribution, industrial organisation, law and economics, macroeconomics, monetary economics, politics - USA, property rights, Public Choice, public economics, rentseeking Tags: 2024 presidential election, drug lags, taxation and entrepreneurship, taxation and investment
Milton Friedman used to advise researchers to focus on large policy changes rather than attempting to separate a small change’s signal from the noise. In this sense, the “ambitious” policy agenda of the Biden-Harris administration was expected to be a gift to the research community. Accepting this gift, since 2020 I have been making forecasts…
Biden-Harris policies and their consequences were no surprise to those paying attention
17 Oct 2024 Leave a comment
in applied price theory, economic history, health economics
Since 2000, pharmaceuticals for common psychiatric conditions aged out of patent protection. After generic entry, supply increases as more sellers enter the market, leading to lower prices – about 80-85% less! Cheaper prescriptions and more treatment are the stated goal of policies to improve affordability. …Drug prices definitely fell during this period. For the SSRI sertraline, consumer cost per month dropped from ~35 dollars in […]
Incentives matter, the demand curve slopes downward, mental health edition
12 Oct 2024 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economics of regulation, health economics Tags: economics of pandemics
During the pandemic, economists often found themselves at odds with politicians, physicians, epidemiologists and others. Some politicians, for example, were worried that the pharma companies might engage in profiteering while economists worried that the pharma companies were not nearly profitable enough. Physicians focused on maximizing the health of patients while economists focused on maximizing the […]
The Economic Way of Thinking in a Pandemic
11 Oct 2024 Leave a comment
in energy economics, environmental economics, global warming, health economics Tags: climate activists, regressive left, vegetarianism
Tyler Durden reports at Zerohedge Meat Substitutes Still A Tiny Sliver Of US Meat Market. Excerpts in italics with my bolds and added images. Over the past few years, plant-based meat substitutes have come closer and closer to mimicking the real thing, with brands like Beyond Meat having even sussed out how to create fake meat that “bleeds”. But, as Statista’s […]
Climatists’ War on Meat updated
07 Oct 2024 Leave a comment
in applied price theory, health economics, labour economics, labour supply, poverty and inequality, public economics, welfare reform Tags: retirement savings
Our Treasury is at it again. Telling Kiwis a bleak future awaits them, especially in retirement. Its latest report about how NZ Demographic Change will affect the Country’s Finances is enough make the PM’s eyes glaze over, Finance Minister Willis fall asleep, NZ First leader Peters to press Delete on his laptop & everyone else…
The NZ Treasury’s Lack of Imagination Threatens our Future. It has no faith in Economic Magic (Einstein did).
07 Oct 2024 Leave a comment
in applied price theory, economics of regulation, health economics, industrial organisation
That is the topic of my latest Bloomberg column, here is one excerpt: As for consumer prices for the current obesity drugs, they are not as high as is often reported, once the various ways to get a discount are taken into account. Despite reports that the drugs cost $1,000 per month, the reality is more favorable. […]
On the price of Ozempic
02 Oct 2024 Leave a comment
in applied price theory, economics of regulation, health economics, politics - USA Tags: drug lags
Reuters: Mark Cuban’s Cost Plus Drug Company said…that it is working with the U.S. Food and Drug Administration to import and distribute penicillin in the country temporarily….Cuban’s Cost Plus will import Lentocilin brand penicillin powder marketed by Portugal-based Laboratórios Atral S.A. There are two remarkable items in the above passage. First, there is a shortage…
Peer Approval to Address Drug Shortages
21 Sep 2024 Leave a comment
in applied price theory, economic history, health economics, industrial organisation Tags: drug lags
The US has high prices for branded drugs but it has some of the lowest prices for generic drugs in the world and generic drugs are 90% of prescriptions. I’ve been saying this for years but here is the latest study: U.S. prices for brand-name originator drugs were 422 percent of prices in comparison countries, […]
The US Has Low Prices for Most Prescription Drugs
15 Sep 2024 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, economics of bureaucracy, economics of information, economics of regulation, health economics, politics - New Zealand, Public Choice Tags: drug lags, economics of pandemics
In a sane world, medicines and vaccines already approved by trustworthy overseas regulators would automatically be able to be used in New Zealand as well.New Zealand is not sane. But neither is anywhere else really on that standard. Other places are just faster than NZ in getting things approved, with more practicable pathways for expedited…
Monkeypox and Medsafe
28 Aug 2024 1 Comment
in economic history, economics of bureaucracy, health economics, industrial organisation, Marxist economics, politics - New Zealand, Public Choice, theory of the firm Tags: health insurance
Enough is enough. Former PMs Helen Clark and Jacinda Ardern should come clean about how they were the Chief Architects of the omni-shambles that has become our health system. They should take responsibility for the folks who suffered from long waiting lists and declining health-care quality, some of whom didn’t make it. The person who…
Former Labour PM’s Clark and Ardern wrecked NZ’s Health System: they should be held accountable for the lives that have been lost
22 Aug 2024 Leave a comment
in economic history, economics of media and culture, health economics
17 Aug 2024 Leave a comment
in applied price theory, comparative institutional analysis, economic history, economics of bureaucracy, economics of regulation, energy economics, health economics, history of economic thought, income redistribution, industrial organisation, international economics, liberalism, Marxist economics, politics - USA, Public Choice, rentseeking Tags: 2024 presidential election, price controls, tariffs
As a Senator, Kamala Harris embraced all sorts of terrible ideas, such as the Green New Deal and Medicare for All. But she’s now disavowed those proposals in an attempt to make herself seem more reasonable. Trump, by contrast, is consistent. For better or worse, he’s pushing in 2024 the same agenda that he ran […]
Kamala Harris, Price Controls, and the Contest for the Dumbest Policy Proposal of 2024
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
A History of the Alt-Right
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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Celebrating humanity's flourishing through the spread of capitalism and the rule of law
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