This short article, written for the forthcoming Princeton Encyclopedia of the World Economy, characterizes the problems low-income nations experience obtaining access to modern pharmaceutical therapies, which could alleviate disease and facilitate economic development. Lack of purchasing power...

This article, written for the forthcoming Handbook of the Economics of Technical Change, surveys the costs, risks, and challenges encountered in the discovery and development of superior new pharmaceuticals. The changing methods by which drugs are discovered, the links between companies and...