This US survey examines (a) Allowing Medicare to negotiate prices with pharmaceutical companies will lead to a substantial reduction in the costs of prescription drugs for US retirees; (b) Allowing imports of medicines from Canada will lead to a substantial reduction in the costs of prescription drugs for US consumers without compromising safety
Keyword: drug prices
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This European survey examines (a) A legalized and carefully regulated market for cannabis would lead to measurably higher social welfare than a system of prohibition
This US survey examines (a) If it is implemented, the proposed increase in the tax rate on earned and business income above $400,000 in the Biden budget, along with other proposed changes to Medicare, would extend the solvency of the Medicare program for the next 25 years; (b) If it is implemented, the proposed reform of Medicare drug negotiations in the Biden budget is likely to lead to a substantial reduction in drug prices for beneficiaries; (c) If it is implemented, the proposed reform of Medicare drug negotiations in the Biden budget is likely to lead to a substantial reduction in the development of beneficial new drugs
This week’s IGM Economic Experts Panel poll statements:
A) All else equal, making drugs illegal raises street prices for those drugs because suppliers require extra compensation for the risk of incarceration and other punishments.
B) The Netherlands restrictions on “soft drugs” combined with a moderate tax aimed at deterring their consumption would have lower social costs than continuing to prohibit use of those drugs as in the US. (Click here for a summary of the Netherlands restrictions.)
Compare yourself or your peers to the Clark Center Economics Experts Panel
