Current affairs

An interesting Economist article about the uses of prizes to promote innovation is a missed opportunity to explain the economic logic of prizes for innovations for developing countries. The reported comments by Tachi Yamada at the Gates Foundation about the value of market success do not seem to take account of the shortcomings of the system of patents and markets when it comes to developing drugs for diseases that mainly affect developing countries, nor to the problem of ensuring access in developing countries for new drugs.

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We have been told that the three largest parties in the UK are committed to retaining DFID as a separate government department, with its own Cabinet Minister, and with a budget that rises to meet the UK's commitment to increase aid to 0.7% of GDP. If we want to help to accelerate development, then some of the time we will need to put the UK's broad, long-term interest in building a safer, more equal and prosperous world ahead of the UK's narrower and short-term commercial or political interests. The most important international development question for the UK election should be: which of the political parties is willing to do that? Continue reading
About Owen

Owen Barder is the Europe Director at the Center for Global Development. He writes here about development, economics, politics, computers, running, and anything else that interests him. He also hosts Development Drums.


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