Episode description

In this episode we present some provocative solutions to problems presented in the previous two stories.We heard about pharmaceutical patents, and how embedded intellectual property law is in global trade relations. There’s this fundamental assumption that innovation occurs thanks only to the vigour of the private sector and the plucky entrepreneur. It’s even been said that financialized capitalism is “the greatest engine of progress ever seen.”

But the reality is that shiny smartphones and targeted drugs wouldn’t exist without massive government spending on research. It’s public money that funds the riskiest stages of development, before private enterprise takes these products to market with the benefit of monopoly pricing. Dr Owain Williams and Associate Professor Peter Hill argue that states can demand more control over the outputs and pricing of drug and vaccine research, and that the current intellectual property regime is not the only way to stimulate innovation.

In the second part Associate Professor Adam Kamradt-Scott talks about the lessons learned and not learned from pandemic modelling in past years. He also makes the case for establishing an Australian Centre for Disease Control with standalone jurisdiction, to cut through some of the conflict we’ve seen in recent months between state and federal leaders. 

Guests
Dr Owain Williams (University of Leeds) 
Associate Professor Peter Hill AFPHM (University of Queensland)
Associate Professor Adam Kamradt-Scott (University of Sydney, United States Studies Centre)

Production
Written and produced by Mic Cavazzini DPhil. Music courtesy of Free Music Archive includes ‘Cherry Blossom’ by Daddy Scrabble, ‘Sunstorm’ by ELFL, ‘Mister S’ by Tortue Super Sonic and ‘Club Crunk for Monkeys’ by Kromatic. Image licenced from Getty Images. 

Editorial feedback for this episode was kindly provided by physicians of the RACP’s Podcast Editorial Group; Sern Wei Yeoh, Leah Krischock, Saion Chaterjee, Priya Garg, Victoria Langton and Joseph Lee.

Please visit the RACP website for a transcript embedded with citations. Fellows of the College can claim CPD credits for listening and additional reading.