Economics smackdown
Everybody is talking about the general lack of preparedness for a major outbreak of the avian flu among humans. The only drug that’s known to help people fight off the disease is Tamiflu. It’s developed by Swiss company Roche and we don’t have nearly enough of it on hand to deal with a major flu outbreak should one arise. What should we do to obtain enough of it? One obvious answer is violating Roche’s patent on the drug and licensing other companies to produce it as well. Liberal economist Dean Baker over at MaxSpeak recommends doing just that. In fact, he recommends doing away with patents on drugs entirely: ...