October 3, 2008
Is Ignorant Dogmatism Possible? I'm Afraid So.
October 3, 2008
The Lamps Are Going Out
October 3, 2008
What If the Median Voter Were a Failing Student?
October 3, 2008
Credit Default Swaps
October 3, 2008
How Government Used Fannie and Freddie
October 2, 2008
The International Angle
October 2, 2008
Cochrane and Rogoff on the PBS News Hour
October 2, 2008
Henry Waxman's Hearings
October 2, 2008
Economists' Bipartisan Bailout Opposition


That is a very powerful use of anecdotal evidence to bring home and make real to people the facts about drug innovation, but in very powerful human terms. For some reason those on the economic and labor left seem to often be confined to a zero-sum, static view of the economy and issues in general, with less regard for future results and outcomes. Michael Moore especially appears to have a Delta value of close to zero when it comes to factoring in future value.
David L - "those on the economic and labor left seem to often be confined to a zero-sum, static view of the economy and issues in general"
This is not quite correct. Its true if you confine yourself to consideration of material goods - better health care, cleaner environment, cooler gadgets - but its not true if you take account of the smug feeling of togetherness that tax funded health and education appear to engender in large numbers of people. My experience as a UK citizen is that people seem to get a huge amount of utility from the fact that "we" (ie other tax payers) are looking after the poor and needy (ie me and people just like me).
I as a doctor often prescribe American brand drugs for my patients although they are named different here in Europe... Andre
The other day, I told my physician, "I love the pharmaceutical companies!" He was rather surprised, to say the least. In the past eight years, five newer, "expensive" medications have improved my life far beyond their cost. My quality of life would be much reduced without the existence of these drugs. Thank you, Big Pharma. You've done more for me than most.