New research by the Cato Institute shows that America generates more medical innovations than any other country, and in some cases, more than all other countries combined. Medical innovation may be more important than covering the uninsured or controlling health care spending, inasmuch as a treatment must first be invented before its costs can be reduced and its use extended to everyone. The Democrats’ health care legislation focuses on expanding health insurance coverage, which should encourage innovation—yet it does so by expanding price controls, government purchasing, and health insurance regulation, which reduce innovation. What would be the net effect? What are the alternatives?
Featuring Benjamin H. Friedman, Research Fellow in Defense and Homeland Security Studies, Cato Institute; Spencer Ackerman, Senior Writer, WIRED Magazine; and Julian Sanchez, Research Fellow, Cato Institute; moderated by Laura Odato, Director of Government Affairs, Cato Institute.
Featured PublicationWe are grateful to the Harry and Lynde Bradley Foundation and the Carthage Foundation whose support of the October 2012 Cato Conference “Europe’s Crisis and the Welfare State: Lessons for the United States” made possible this special issue of the Cato Journal.
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More Bang for Your Buck
The Cato Institute tops a new measure of think tank performance in the United States, according to a recent report. Cato bested all other U.S. think tanks in the main category of “Aggregate Profile per Dollar Spent.” “I’m grateful to the Center for Global Development for showing that Cato gives its sponsors something I wish government gave more of to taxpayers: bang for the buck,” said Cato CEO John Allison.