This week’s IGM European Economic Experts Panel statements:
A) Given the social and regulatory pressures to keep prices down for drugs and vaccines to treat Covid-19, the financial incentives for pharmaceutical companies to invest in such products are below the value of the investment to society.
B) Government commitments to pay developers and manufacturers above average costs for an effective vaccine or drug treatments for Covid-19 would accelerate production.
C) Given the positive externalities from vaccination, an effective Covid-19 vaccine should have priority in public healthcare funding even in countries where other diseases cause more death and disability.
Keyword: innovation
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This week’s IGM Economic Experts Panel statements:
A) Given the social and regulatory pressures to keep prices down for drugs and vaccines to treat Covid-19, the financial incentives for pharmaceutical companies to invest in such products are below the value of the investment to society.
B) Government commitments to pay developers and manufacturers above average costs for an effective vaccine or drug treatments for Covid-19 would accelerate production.
C) Given the positive externalities from vaccination, an effective Covid-19 vaccine should be mandatory for every US resident (except those with health exceptions, such as infants and people with compromised immunity) with the cost covered by the federal government.
This week’s IGM European Economic Experts Panel statements:
A) Europeans would benefit more from an extra €1 billion of public R&D spent through existing (public) channels than from an extra €1 billion of private R&D spent through existing (private) channels, all else equal.
B) Europeans would benefit more from an extra €1 billion of public medical research spent through existing (public) channels than from an extra €1 billion of private medical research spent through existing (private) channels, all else equal.
This week's IGM European Economic Experts Panel statement:
Ideas are nonrival, so increasing returns to scale is an essential feature of technological change in a market economy.
This week's IGM Economic Experts Panel statement:
Ideas are nonrival, so increasing returns to scale is an essential feature of technological change in a market economy.
This week's IGM European Economic Experts Panel Statement:
Over the past two years, all else equal, the appeal of the US as a destination for immigrants has changed in ways that will likely decrease innovation in the US economy.
This week's IGM Economic Experts Panel statement:
Over the past two years, all else equal, the appeal of the US as a destination for immigrants has changed in ways that will likely decrease innovation in the US economy.
This week's IGM Economic Experts Panel statements:
A) Allowing US-based employers to hire many more immigrants with advanced degrees in science or engineering would lower (at least temporarily) the premium earned by current American workers with similar degrees.
B) Allowing US-based employers to hire many more immigrants with advanced degrees in science or engineering would raise per capita income in the US over time.
This week’s IGM Economic Experts Panel statement:
Future innovations worldwide will not be transformational enough to promote sustained per-capita economic growth rates in the U.S. and western Europe over the next century as high as those over the past 150 years.
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