(The author, a Professor of Economics at IIM Calcutta, is now a visiting Professor of Economics at University of Rochester, US.)
While economists recognise the need for continuing R&D, they feel that options other than the current patent system must be explored which can encourage research and, at the same time, keep new drugs affordable. Under the prevailing fiscal problems in all countries, government funds for research would be inadequate and the government research organisations may like to play safe, affecting risky innovation
No comments:
Post a Comment