The Dismal Science

Breaking the pharmacy cartel

Eric Crampton • Feb 15, 2019

• competition,
• health costs,
• medicine costs,
• pharmacies

I wish that government spent even half as much time looking at how its existing regulatory structures create cartels as it did in the rest of its antitrust enforcement. The Herald reports that a new entrant has finally started shaking things up in pharmacy, reducing costs to consumers. They get the framing entirely backwards, focusing on reduced earnings among … Read More

Good character?

Eric Crampton • Jan 14, 2019

• Drugs,
• Legalisation,
• marijuana

National wishes to impose a ‘fit and proper persons’ test for those supplying legal medicinal cannabis. National’s associate health spokesman Shane Reti said medicinal cannabis manufacturers and employees should be “fit and proper persons”. National has proposed clean slate legislation requiring no terms of imprisonment and no convictions for seven years for employees, and even tougher standards for licence … Read More

Material progress: how very recent

Michael Reddell • Jan 14, 2019

• genealogy,
• living standards,
• progress

There was a news story a few years ago in which some academics were reported as suggesting that pretty much everyone of West European descent alive today was descended from Charlemagne, first Holy Roman Emperor.   That he had 18 children, legitimate and otherwise, only increased those probabilities. 35 generations back we each have about 34 billion notional ancestors … Read More

Bias toward action?

Eric Crampton • Nov 15, 2018

• Fireworks,
• petition

Kiwis so-inclined can petition their Parliament for legislative change. But they cannot petition Parliament to maintain the status quo. Victoria University’s Chris Eichbaum wants the government to ban private fireworks displays. This is just phenomenal. With this level of support we now have an opportunity to get them issues in front of law makers and to push for … Read More

Have you considered using prices?

Eric Crampton • Nov 08, 2018

• artificial insemination,
• assisted reproduction,
• fertility,
• sperm donation

Talk about an elephant in the room. Radio New Zealand’s story on unregulated informal sperm donor networks is a great chronicle of what happens when you ban payments for sperm donors, without once mentioning that the whole thing is a consequence of a ban on payments for sperm donors. It’s like a murder mystery where all the facts are … Read More

Doing less good than we could – carbon edition

Eric Crampton • Oct 09, 2018

• climate change,
• electric vehicles,
• emissions trading scheme,
• transport

New Zealand has an emissions trading scheme. It isn’t perfect. But for the sectors covered by the ETS, including transport, best policy for reducing carbon dioxide emissions is fairly simple: buy and retire credits.  The government simply cannot know whether the cheapest way of reducing CO2 emissions is by getting the least efficient cars off the road; having people switch … Read More

The IDI and government data linking

Michael Reddell • Oct 09, 2018

• Data,
• Integrated Data Infrastructures,
• statistics

Browsing on The Treasury’s website the other day, it was the title that caught my eye: “Talkin’ about a revolution”.   I’m rather wary of revolutions.  Even when –  not always, or perhaps even often –  good and noble ideas help inspire them, the outcomes all too often leave a great deal to be desired.   There are various, … Read More

Five dollar prize

Eric Crampton • Oct 03, 2018

• government,
• production

I’ve been absolutely loving Tyler Mahan Coe’s podcast series on the history of country music and the country music business. Every story is fascinating. A lot of the stories aren’t good for the kids. But I played the one about the Louvin Brothers (nee Loudermilk) for the kids. I paused it after this bit too see if they could … Read More

Carbon emissions and the Taranaki ban

Eric Crampton • Sep 28, 2018

• carbon,
• climate change,
• emissions trading scheme,
• MBIE,
• offshore oil and gas

MBIE’s advice on Labour’s ban on Taranaki oil and gas exploration suggested that global emissions could go up. Could that happen? It depends on what you think’s going on in the rest of the world. Suppose that the whole world were under a binding emissions cap under a global cap and trade regime. If New Zealand produced less natural … Read More

1

As expected

Donal Curtin • Sep 27, 2018

• Commerce Commission,
• court of appeal,
• merger,
• StuffMe

The NZME/Fairfax Court of Appeal judgement is out and contained few surprises. The Court had been widely anticipated to rebuff the appeal against the Commerce Commission’s refusal to authorise the proposed merger of NZME (the Herald, radio stations, and a herd of other North Island media businesses) and Fairfax (DomPost, Press, S-ST, herd of other media things nationwide). So … Read More