Episode Details

Adam Haman welcomes patent attorney and libertarian legal theorist Stephan Kinsella back to the show to talk about why prescription drugs are so expensive in the US and what can (and should) be done about it. Even "free market" economists like George Mason University's Alex Tabarrok get this wrong!

00:00 — Intro. Welcoming my friend and verifiably smart person, Stephan Kinsella!

00:44 — Is Trump's new executive order going to make drugs cheaper in the US?

02:26 — What ever would we do without the government? Are they here to make us safe?

04:30 — Bob Murphy interviewed Alex Tabarrok about this issue. Stephan has some critiques!

06:32 — Clip 1: Does Trump's EO "import price controls" from other countries? What's missing from the analysis?

14:38 — Clip 2: Do countries "free ride" off our "free market" system? Is that why drugs cost more here? No! What freakin' free market?! Also, what does "market failure" really mean?

23:47 — Clip 3: Price discrimination makes sense in other market areas. What's the problem with using it for pharmaceuticals across national boundaries?

30:27 — Clip 4: Why do some "free market" economists hate free trade so much?

34:36 — Clip 5: What on earth is the "Tabarrok Curve" in relation to intellectual property laws? Also, is it true that pharmaceuticals are THE definitive case for the necessity for IP laws? Stephan says not, and shows his work.

52:03 — A truly bonkers "replacement" for IP: Create a tax-funded prize system for innovation!

57:30 — Is the Overton Window on the IP issue beginning to shift at all?

1:02:53 — Outro. Thanks for watching Haman Nature!

Stephan Kinsella's website:

Blogpost mentioned often as the source for this episode:

Human Action podcast mentioned - "Why are US Drug Prices So High?"

Book mentioned: Against Intellectual Monopoly by Michele Boldrin and David Levine:

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Adam's other podcast: Natural Order Podcast