Monday, May 18, 2015
Victoria DuBois, Epilogue, Question #6
I liked the part in the epilogue where Wheelan brings incentives back into the book. The question he is asking is "Will we use the market in imaginative ways to solve social problems?" He talked about rare diseases that companies ignored them because they had no funding to research them. So everyone just swept the diseases they didn't know how to fix under the rug. Because there was no funding for these diseases, there was no incentive to figure out solutions. Then in 1983 Congress passed the Orphan Drug Act and it gave researchers the incentive to look and create solutions. Because people think in personal self-interest and so in order to solve social problems, you have to give people the incentives to help.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment