Expensive cancer drugs are all the rage in pharma these days

Growing evidence that healthcare research should not be entrusted to Big Pharma:

In the last decade, the average cost of a brand-name cancer drug jumped from about $5,000 per month to $10,000 per month in 2013, according to a new IMS Institute for Healthcare Informatics study out this morning. Oncology, by far, remains the largest area of focus in drug research and development, IMS said.

If they found a potential low-cost cure, would they be tempted to kill the research? Youbetcha.

Read more at Expensive cancer drugs are all the rage in pharma these days.

Kathryn Schulz: On being wrong [TED]

Most of us will do anything to avoid being wrong. But what if we’re wrong about that? Kathryn Schulz makes a compelling case for not just admitting but embracing our fallibility.

How marijuana use among teenagers can affect brain development | The Economist

From P.H. at The Economist:

Hans Breiter, a professor of psychiatry and behavioural sciences at Chicago’s Northwestern University, worries that the rush to promote recreational use is reckless, and that not enough thought is being given to the balance between costs and benefits. In a study published today in the Journal of Neuroscience, Dr Breiter and a group of researchers from Northwestern, Massachusetts General Hospital and Harvard Medical School found that the size, shape and structure of parts of the brain are changed in teens and young adults who smoke weed as little as once a week. Earlier studies have focused only on tetrahydrocannabinol (THC, the main psychoactive component of pot) affects the brains of animals or intensive, dependent human users—and found evidence of impaired learning, memory, attention and decision-making. But those studies did not consider the effects of casual use.

Read more at Marijuana: Baked brains | The Economist.

Inside the Nation’s Biggest Experiment in School Choice | WSJ.com

Stephanie Banchero at WSJ describes how state introduction of charter schools in New Orleans has lifted academic performance.

There is broad acknowledgment that local schools are performing better since Hurricane Katrina washed away New Orleans’ failing public education system and state authorities took control of many campuses here.

Graduation rates went to 78% last year from 52% before Katrina—surpassing Detroit, Baltimore, Washington, D.C., and Oakland, Calif., cities also struggling to boost achievement among lower-income students. The share of New Orleans students proficient in math, reading, science and social studies increased to 58% in 2012 from 35% before the 2005 storm, state data shows.

….About 84% of its 42,000 public school students attend charters, the largest share of any district in the U.S.

Charter schools are largely free to manage their own budgets and hiring, set curriculum and schedules, and select textbooks. The lowest performing schools are eventually closed by state officials or replaced with new operators.

For the school year that started in August, parents picked among 78 charter schools, as well as eight traditional campuses, one independent school with a board appointed by the governor and 38 private schools that are paid with state-issued tuition vouchers. To help guide the selection, public schools are issued grades of A to F, based on academic performance.

State-issued vouchers promote competition amongst schools and lift performance. The system not only empowers parents but also empowers staff in those institutions, judging them on performance rather than on conformity to strict regulatory controls.

An experiment in the Lombardy region of Italy has also demonstrated that similar competition between state and private institutions in the health care sector reduces costs and improves outcomes. Given the striking success of this model, expect to see growing adoption in both health care and education despite resistance from vested interests.

Read more at Inside the Nation's Biggest Experiment in School Choice – WSJ.com.

The US corporate boom in solar power explained in five charts – Quartz

Todd Woody writes:

While electricity prices are expected to continue to rise in the years ahead, the installed cost of a photovoltaic system continues to drop.

PV Costs

The plummeting price for photovoltaic electricity means that installations are spreading beyond states like California that feature both high electricity prices and generous subsidies for solar.

I suspect that generous subsidies are the primary motivation. Even at $3500 per KW and 300 sunny days a year, the payback period is more than 10 years when compared to the average commercial cost of 14 cents/KWH. The cost of PV systems would have to halve again to make them commercially viable without subsidies.

Read more at The US corporate boom in solar power explained in five charts – Quartz.

Pro-nuclear greenies? Thinking outside the box with Pandora’s Promise

Ben Heard and Prof. Corey Bradshaw highlight the environmental and economic damage caused by pursuit of nuclear-free power.

Had Australia deployed a modest nuclear program starting in 1965, to build slowly to around 20% of electricity provided (as done in the USA), over 876 million tonnes of carbon dioxide equivalent (CO2-e) would have been avoided to this day.

…..In the OECD, three yes, only three countries have achieved success in all but eliminating fossil fuels from electricity supply. They are France, Sweden and Switzerland Finland will soon join them. All did it by embracing nuclear power generation. These nations deliver reliable, large-scale electricity supply with less than 1/10th the emissions of Australia. France in particular delivers the cheapest electricity in Western Europe, and is the second-highest net exporter of electricity in the world…..

Read more at Pro-nuclear greenies? Thinking outside the box with Pandora's Promise.

Consumption biggest SMSF risk

Last week the consulting group Deloitte ……. analysis of how long after retirement retirees’ nest eggs would last that was the most profound aspect …..it showed that retirees living “comfortable” retirement lifestyles would run out of superannuation money after just 11 years compared to those that opt for a “modest” retirement lifestyle who would see their superannuation last 30 years.

Read more at Financial Standard – Cognitive function, consumption biggest SMSF risks.