Modern Medicine: More Than Just a Lifestyle Enhancer
A few weeks ago on the Policy Innovations Website, I read an interesting article on Prizes not Patents by Joseph Stiglitz regarding the problems with modern medicine.
In short Mr. Stiglitz makes a case that pharmaceutical companies invest billions of dollars every year on research, but unfortunately (or fortunately depending on your opinion), due to patents, the pharmaceutical companies are also monopolizing the advances of modern medicine. Today’s pharmaceutical companies are not only charging outlandish prices but they are focusing their research on trivial advances. Instead of placing a focus on medicines that will treat serious diseases, the focus of much research is aimed at improving today’s latest beauty products.
The use of patents puts a freeze on information: it disallows further research to be conducted by outside individuals that may have the potential to develop incredible cures, and medicines that will put an end to suffering. Patents also make the current cost of various medications next to impossible to afford without some form of insurance. When a patent is in place, generic drugs cannot be produced that are far more affordable than the original drug.
More money is spent on advertising nonsensical drugs and research for trivial products: “lifestyle drugs” have taken center stage in the pharmaceutical industry. Rather than focus on “life saving and life changing drugs” pharmaceuticals have decided to put their primary focus on drugs that do little more than allow an individual to grow a better head of hair or to improve one’s complexion.
In an effort to remedy the serious imbalance being created by the use of patents, changes in governmental policy will need to be enforced. If the government were to begin offering a medical funding prize for the discovery of life saving medicines, and award the largest amount of money to those developers seeking prevention and treatment alternatives for diseases that severely affect people all over the world, more medicines would have the opportunity to be developed. In addition, with the development of new medications and research supported by a medical prize fund, information could remain freely available –ceasing the monopoly currently placing a strangle hold on the field of medical research.
Of course, a medical prize fund does not have to replace a patent obtaining system and the two systems can be implemented in the field of medical research side-by-side. In essence, researchers would have more than one avenue to pursue in terms of finding the financial backing necessary to develop medicines and to conduct further research. Further, if fewer tax dollars were spent on the advertisement of lifestyle drugs, some of that money could be used to develop and research cures and treatments for serious diseases.
I wonder how many people would choose their Viagra over their heart medication? Hmmm…
Wednesday, June 20, 2007
Image credit: http://themanitoban.com/2003-2004/0211/ed_01.html
Joseph Stiglitz