Wall Street Journal Letter to the Editor

The Economy and Long-Term Common Weal

It’s true that pollution taxes would be set at arbitrary, politically-driven levels rather than being market driven. But so are our current income-tax rates and energy policies.

Mr. Henderson notes Paul M. Romer’s ideas relating the structure of incentives to innovation using the profoundly crucial role patent policy has played in pharmaceutical innovation. But in the 21st century governments have countered the otherwise positive impact of patents with all manner of pharmaceutical price controls. This is no more dramatic than in Japan, which has solid patent policy but counters the effects by controlling prices that would otherwise allow market returns to be put back into innovation.

With its super-aging society—80-plus is its fastest-growing demographic—one might expect Japan to employ Mr. Romer’s calculations for the right incentive structure regarding both patent and pricing policy for the pharmaceutical innovation it needs. If healthier aging through innovation is a solution for Japan’s demographic age challenges, Mr. Romer’s insights would teach that public-policy controls on funding of that innovation is detrimental to its long-term economic needs.

Michael W. Hodin
CEO, Global Coalition on Aging
New York

Source: Wall Street Journal

Latest Developments

We keep our members and partners in touch with the most recent updates and opinions in the worldwide dialogue on population longevity and related issues.

NEW REPORT – Policy Priorities for Super-Ageing Japan: Health Innovation and Economic Growth in the COVID-19 Pandemic Era

New York and Tokyo (February 24, 2021) – Today, the Global Coalition on Aging (GCOA) and the Health and Global Policy Institute (HGPI) announced a report sharing key takeaways from their roundtable on healthy aging, innovation, and the silver economy. The October 2020 virtual roundtable convened experts from across the health, business, aging, and elder homecare sectors in a policy discussion to call on governments to recognize health spending as a critical investment for countries like Japan, who are leading the global megatrend of aging and placing innovation at the center of this investment.

Global Coalition on Aging Partners with the World Summit on the Information Society (WSIS) Forum 2021

New York, NEW YORK (February 23, 2021) – The World Summit on the Information Society (WSIS) Forum 2021 and the Global Coalition on Aging (GCOA) announce their collaboration on the first-ever WSIS Forum Healthy Ageing Innovation Prize to be awarded  at the WSIS Forum 2021.  The prize will be awarded to the most innovative technology that enables healthier and more active ageing and will be presented in parallel with the WSIS Forum 2021 Special Track on ICTs and Older Persons, which is designed, organized and supported by GCOA.

NEW REPORT – The Threat of AMR to Japan’s Super-Aging Society: Implications on Health Care, Public Policy, and Economic Well-Being

New York and Tokyo (February 21, 2021) – Today, the Global Coalition on Aging (GCOA) and the Health and Global Policy Institute (HGPI) announced a report sharing key policy-focused takeaways from their roundtable on antimicrobial resistance (AMR) in super-aging Japan. On October 7, 2020, the roundtable convened experts from across the business, government, academic, aging, and non-profit sectors in a policy discussion that recognized the multifaceted risks of AMR in aging societies around the world, including super-aging Japan.

WSIS Forum 2021 and the Global Coalition on Aging Partner on Hackathon to Inspire Cutting-Edge ICT Innovation for Older Persons

New York, NEW YORK (February 18, 2021) – The World Summit on the Information Society (WSIS) and the Global Coalition on Aging (GCOA) today announce their partnership on the Ageing Better Through ICTs hackathon, a first-of-its-kind global hackathon focused on innovation for the Silver Economy. The hackathon, conducted virtually, will draw participants from around the world and of all ages to generate ideas for information and communication technologies (ICTs) to improve the lives of older persons.

​​​​Global Coalition on Aging and Pfizer Medical Grants Partner to Tackle Vaccine Hesitancy in Super-Aging Japan

New York, NEW YORK (February 17, 2021) – The Global Coalition on Aging and Pfizer Global Medical Grants announced today the launch of the first of its grant projects under the Japan-focused VALUE Initiative (Vaccines for All: Longevity Unleashed for Everyone), which has provided up to $1 million USD in grant awards. Grant recipients include Keio University, the Health and Global Policy Institute (HGPI), and the International Longevity Centre-UK.

Cross-Sector Panel of Experts Offers Trusted Guidance and Answers New Yorkers’ Questions on the Importance of Older Adult New Yorkers Getting Vaccinated Against Covid-19

New York, NEW YORK (January 21, 2021) – The New York City Department for the Aging, the Age-friendly NYC Commission, and the Global Coalition on Aging (GCOA), the world's leading business voice on aging, collaborated yesterday on a webinar to help build trust and acceptance of the Covid-19 vaccines for New York’s older adults.