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Healthcare

Will future biomedical advances be low marginal cost?

Most pharmaceuticals involve high upfront costs, to discover and test the drug, and very low marginal costs. Another pill can be printed almost for free. That cost structure favors health systems, such as that of Britain, that try to pay lower for services. They can end up getting a relatively good deal from price discrimination. […] The post Will future biomedical advances be low marginal cost? appeared first on Marginal REVOLUTION. Related StoriesMy ARC talk on AI and jobsAzeem Azhar (and o...

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Economy

Typewriters and fertility

Workplace technological changes were instrumental in creating new tasks for women over the last century. This paper studies the adoption of the typewriter into US workplaces. Exploiting exogenous variation in typist demand across sectors, I document that the typewriter increased women’s labor force participation, leading to lower rates of marriage and fertility. These developments stemmed […] The post Typewriters and fertility appeared first on Marginal REVOLUTION. CommentsBefore typewriters,...

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