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A Free Market Solution to Prescription Drug Crises


  • Dean Baker


Both at home and abroad, the rapidly rising cost of new drugs is one of the most important issues the country will face in coming decades. How can we reduce prices? Remove the patents that protect monopolies, argues this economist. The patent process is inefficient, he says, and there are other, more direct ways to support research.

Suggested Citation

  • Dean Baker, 2003. "A Free Market Solution to Prescription Drug Crises," Challenge, Taylor & Francis Journals, vol. 46(5), pages 76-89.
  • Handle: RePEc:mes:challe:v:46:y:2003:i:5:p:76-89 DOI: 10.1080/05775132.2003.11034217

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    References listed on IDEAS

    1. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
    2. Graciela L. Kaminsky & Carmen M. Reinhart, 2001. "Bank Lending and Contagion: Evidence from the Asian Crisis," NBER Chapters,in: Regional and Global Capital Flows: Macroeconomic Causes and Consequences, NBER-EASE Volume 10, pages 73-99 National Bureau of Economic Research, Inc.
    3. Kaminsky, Graciela L. & Reinhart, Carmen M., 2000. "On crises, contagion, and confusion," Journal of International Economics, Elsevier, vol. 51(1), pages 145-168, June.
    4. Glick, Reuven & Rose, Andrew K., 1999. "Contagion and trade: Why are currency crises regional?," Journal of International Money and Finance, Elsevier, vol. 18(4), pages 603-617, August.
    5. Carmen M. Reinhart & Sara Calvo, 1996. "Capital Flows to Latin America: Is There Evidence of Contagion Effects?," Peterson Institute Press: Chapters,in: Guillermo A. Calvo & Morris Goldstein & Eduard Hochreiter (ed.), Private Capital Flows to Emerging Markets After the Mexican Crisis, pages 151-171 Peterson Institute for International Economics.
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