Why are millions dying of neglected diseases without vaccines, and is there a way to cheaply change that? Owen Barder, Michael Kremer and Heidi Williams advocate a proposal--Advance Market Commitments--that the G8 finance ministers plan to pilot in 2006.

We need to invest more in vaccines -- Promoting private investment in vaccine development -- A market not a prize -- Design choices -- $3 billion per disease -- Meeting industry requirements -- How sponsors can do it

European countries pride themselves on being leaders in spurring development within poor countries. We find that Europe’s approach to development could be characterised as energetically tackling the symptoms of poor economic opportunities for developing countries by providing effective aid,...