The Healing Power of Innovation | Glen Whitman and Raymond Raad | Cato Institute: Commentary

The Healing Power of Innovation | Glen Whitman and Raymond Raad | Cato Institute: Commentary: "we compare the U.S. to other nations by their contributions to basic medical sciences, diagnostics, therapeutics, and business models. With the exception of business model innovation (which appears sluggish across nations), the U.S. has contributed more in these areas than any other country--and sometimes more than all other countries combined."

"It seems likely that American medical innovation is driven largely by something often regarded as a defect: the fact that we spend so much money."

"Other things equal, people and firms tend to invest more in medical innovation when they expect a higher return, when the returns last longer and when the returns arrive sooner."