Doom: The Politics of Catastrophe by Niall Ferguson review
(Evening Standard) – From plagues and volcanic eruptions to the current Covid pandemic, mankind has always been faced with catastrophes.
Thought Leader: Niall Ferguson
Joe Grogan: Is cheaper better if it kills cancer cures?
Joe Grogan argues that while lowering prescription drug costs is politically appealing ahead of elections, the way policymakers are doing it could have serious long-term consequences. He critiques the drug pricing provisions in the Inflation Reduction Act, specifically the “Maximum Fair Price” system, which ties the price of new drugs to older, existing ones—even if the new drugs are more advanced or effective.
Grogan compares this to forcing a car company to price a safer, more innovative vehicle the same as an outdated model, arguing that this removes the incentive to invest in better products. He warns that applying this logic to pharmaceuticals could discourage innovation and reduce the development of future life-saving treatments.
Overall, his main point is that poorly designed price controls may lower costs in the short term but risk undermining medical progress in the long run.
Visit The Washington Examiner to read the full article by WWSG exclusive speaker Joe Grogan.
Joseph Grogan is a leading healthcare policy expert and former Director of the White House Domestic Policy Council. With more than 20 years of public and private sector experience, he has shaped some of the most impactful health policy debates of the past decade. Grogan brings a pragmatic, bipartisan perspective to issues of innovation, patient access, and healthcare reform. To book WWSG exclusive speaker Joseph Grogan, contact WWSG.
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