Monday, February 13, 2006

Technology development for the 3rd world

Think this method could be applied to nanotech:
Under an advance market commitment plan, the G-8 nations would promise to subsidize the purchase of new vaccines -- for between $800 million and $6 billion -- if pharmaceuticals companies develop ones that meet standards of efficacy and safety. Once the G-8 spends the pledged amount, the drug companies would sell the vaccine at a set discount in the developing world.

The idea is to ensure that companies get a substantial, upfront, government-backed financial incentive to develop the drugs, even if they ultimately have to sell them at a low price. "By restoring appropriate incentives," advance market commitments "can stimulate private research and investment, accelerate the discovery of new vaccines, save lives and contribute to economic development in a cost-effective way," Italian Finance Minister Giulio Tremonti wrote in a report to his G-8 colleagues in December.
Probably. It sounds like a good idea. Let the market do the work, but guide the market.

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