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Power >>>>> money

Summary:
How about letting the market work? Why not let the price of monoclonal antibodies rise until supply equals demand?If we did so, a thousands medical ethicists would scream about how rationing by price favors the rich.Suppose instead that we ration by political power—give it first to people with lots of clout: The most immediate opportunity comes from antibody drugs that can be used both as treatment and prophylaxis. President Trump and former New Jersey Gov. Chris Christie both recovered after they received antibody combinations when their symptoms were worsening. These medications are likely to be most effective when used before or soon after symptoms begin. . . .The federal government is working on a system to control distribution, essentially sending limited supplies to

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How about letting the market work? Why not let the price of monoclonal antibodies rise until supply equals demand?

If we did so, a thousands medical ethicists would scream about how rationing by price favors the rich.

Suppose instead that we ration by political power—give it first to people with lots of clout:

The most immediate opportunity comes from antibody drugs that can be used both as treatment and prophylaxis. President Trump and former New Jersey Gov. Chris Christie both recovered after they received antibody combinations when their symptoms were worsening. These medications are likely to be most effective when used before or soon after symptoms begin.. .

The federal government is working on a system to control distribution, essentially sending limited supplies to states in proportion to their expected eligible patients. Governors would allocate the drugs to hospitals, as happened with the antiviral drug remdesivir.

The response of ethicists? Crickets. .


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Scott Sumner
Scott B. Sumner is Research Fellow at the Independent Institute, the Director of the Program on Monetary Policy at the Mercatus Center at George Mason University and an economist who teaches at Bentley University in Waltham, Massachusetts. His economics blog, The Money Illusion, popularized the idea of nominal GDP targeting, which says that the Fed should target nominal GDP—i.e., real GDP growth plus the rate of inflation—to better "induce the correct level of business investment".

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