Word: economists
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...players. Working largely through BIO and the Pharmaceutical Research and Manufacturers of America (PhRMA), it has funded an extensive network that includes not only lobbyists but also think-tank experts and advocacy groups. "You can't get on the phone with someone who isn't getting paid," says an economist who has studied the biologics issue with funding from a drug company. "They give money to everyone and anyone...
...Similarly, on Oct. 19, PhRMA put out a statement calling for a "fair period of data protection" of 12 years at a "bare minimum." To defend its position, the group cited Duke University economist Henry Grabowski, whose work it has funded, and two patient groups. One, called RetireSafe, receives regular infusions of "general operating support" from Pfizer and operates out of a small Washington law-firm office. It has been blitzing Capitol Hill with letters arguing that guaranteeing biologics makers fewer than 12 years of exclusivity in the use of their data could cost lives. The other group, the Alliance...
...reported that its gross domestic product grew by a healthy 8.9% in the third quarter, from the same period a year earlier. Inflation in China "will rise faster than in most other major economies and will therefore justify earlier and stronger-than-expected rate hikes," wrote Jun Ma, an economist at Deutsche Bank in Hong Kong, in a September note. Concerns are also mounting that continued loose monetary policy in Asia could fuel dangerous and unstable asset price bubbles, especially in property. There has been some speculation in financial markets that South Korea's central bank could raise interest rates...
...However, Neumann and other economists question if Asia will take such action, even if it does prove necessary. By raising rates ahead of the rest of the world, Asia could attract capital flows and put pressure on its currencies to appreciate. Stronger currencies would make Asian exports more expensive - a consequence policymakers in the region's trade-dependent economies might wish to avoid. "Unless you are really forced to do something independent of the Federal Reserve, you are probably not going to go that route," says Duncan Wooldridge, an economist at UBS in Hong Kong...
...Other Republicans, like economist Kevin Hassett, a former adviser to McCain's presidential campaign, say it might be better to focus on policy fixes that could have long-term impacts, not just short-term impacts. "You can have a stimulus every quarter from now until we go bankrupt," Hassett said. "But would that be good policy...