Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Tuesday, April 19, 2005

British Drugs

Are British pharmaceutical firms doing less research in the UK?
If so, is it because of animal rights activists?
EVIDENCE that animal rights extremists are driving drug companies out of Britain emerged yesterday, with figures revealing a collapse in investment in new laboratories and the first fall in research spending in the UK for 15 years.
Or do globalization, comparative advantage, and foreign tax breaks have more to do with the decline in pharmaceutical research in the UK? (from the same article, but much farther down):
Mr Lawton said that growing rivalry from China, India and Eastern Europe and mounting red tape were also discouraging drug companies from investing in Britain.
[thanks to BrianF for the link]
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