It is well accepted among health economics wonks that the lion’s share of pharmaceutical company profits come when these companies hold exclusive rights to their products. Once their blockbuster pills go “generic,” competitors enter the marketplace and profits plummet. Consider captopril, a groundbreaking heart failure medication introduced in the early 80s by Bristol-Myers Squibb under…
Yet another picture of the steep drop in the percent of Americans without healthcare insurance, post Obamacare. Thanks for sharing this, Dina Pomeranz (@DinaPomeranz).
The United States far outspends peer countries on healthcare. When American politicians complain about these high healthcare costs, they often vilify pharmaceutical and insurance companies for profiting at the expense of the general public. As I wrote earlier, such vilification is misguided, pushing too much of the blame on individual actors rather than on the…
Ever wonder why your spouse eats too much even when you warn him or her not to eat too much? It could be because your admonitions put your spouse into a state of reactance, causing them to go against your advice just to prove their independence. Reactance is a state of mind that arises when…
Recently, I got an incredibly nice email from a complete stranger. It began like this: “I am an Economics teacher in England and have just finished reading your wonderful book ‘Free Market Madness’. When you write a book that only 5 people read, it is nice that at least one person thinks it is wonderful….
Healthcare is often really costly. And with increasing frequency, a significant chunk of those costs is being passed on to patients in the form of high deductibles, copays, or other out-of-pocket expenses. As a result, millions of Americans struggle to pay medical bills each year. What’s a poor patient to do? For starters–they can talk…