To the costs of higher drug prices, add the cost of other public subsidies to the pharmaceutical industry, such as GSK's £486 million tax break from the Patent Box.

www.taxwatchuk.org/the-great-ph...

This is the worst day in the history of economics for anyone to complain that "oh, but x isn't a *real* economist."

www.msn.com/en-us/politi...

And all this harmful deregulation isn't likely to make a long-term difference anyway.

I'd argue that European big biz isn't being out-competed because of excessive red tape, but because of the failed decisions of its business elites.

e.g. to outsource large parts of its supply chains to China.

Compare, also, the scale of UK investment they're talking about vs elsewhere.

E.g. Eli Lilly "may" invest £279m in the UK.

Eli Lilly "will" invest $3bn in the Netherlands. Presumably because EU single market, plus low tax rate.

pharmaphorum.com/news/lilly-p...

investinholland.com/news/eli-lil...

Woodward and Bernstein have a lot to answer for.

As to the "sell drugs for less profit" part, well, good luck with that.

criticaltakes.org/tax-and-prof...

And some stories don't make it into the news at all because journalists think that what they reveal is "normal".

E.g. a big tax break for "innovation", a quarter of the value of which turns out to go to a single company.

www.taxwatchuk.org/taxwatch-inv...

I'm not sure that anyone who's looked at the oil industry would consider all this to be very new.

Except that some counter-pressures, such as DOJ enforcement of US anti-corruption laws, have disappeared.

Tiny high-tech shovels made of silicon.

Here @benjaminwood.bsky.social explains how big business aggressively markets these foods for profit despite their impacts on public health worldwide.

criticaltakes.org/society-and-...