Strong Medicine
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Author Description
Vaccines offer the best hope for controlling diseases and could dramatically improve health in poor countries. But developers have little incentive to undertake the costly and risky research needed to develop vaccines. This is partly because the potential consumers are poor, but also because governments drive down prices." In Strong Medicine, Michael Kremer and Rachel Glennerster offer an innovative yet simple solution to this worldwide problem: "Pull" programs to stimulate research. Here's how such programs would work. Funding agencies would commit to purchase viable vaccines if and when they were developed. This would create the incentives for vaccine developers to produce usable products for these neglected diseases. Private firms, rather than funding agencies, would pick which research strategies to pursue. After purchasing the vaccine, funders could distribute it at little or no cost to the afflicted countries."--BOOK JACKET.
Menrva's Summary
THE THESIS
The book proposes a novel incentive structure to stimulate the development of life-saving vaccines for neglected diseases in developing countries. Michael Kremer and Rachel Glennerster address the critical issue of insufficient research into vaccines for diseases disproportionately affecting impoverished populations. They argue that current market forces and government pricing strategies disincentivize private investment in this vital area. Their proposed solution,
THE SCOPE MAP
- Analysis of the economic disincentives for vaccine development for neglected diseases.
- Detailed explanation of "Pull" programs as a mechanism to stimulate research.
- Examination of how funding agencies would commit to purchasing viable vaccines.
- Discussion on how private firms would select research strategies.
- Exploration of the distribution of purchased vaccines to afflicted countries.
THE AUTHORITY PERSPECTIVE
In "Strong Medicine," Michael Kremer and Rachel Glennerster present a compelling economic argument for incentivizing vaccine development. The book's core proposal, the "Pull" program, is designed to align market incentives with public health needs, particularly for diseases affecting the global poor. The authors' background in economics lends authority to their analysis of market failures and their proposed solutions. The book is likely to be of interest to policymakers, public health officials, and economists concerned with global health equity.
Page Count:
152
Publication Date:
2004-01-01
ISBN-10:
0691121133
ISBN-13:
9780691121130
Economics
Non-Fiction
Health
Public Policy
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