Exorbitant drug pricing by Big Pharma is often viewed as exploitative and unfair to those who don’t have the support of insurance or government subsidies. Justin Liu sort-of explains why it might be a necessary evil.
Hurricane Harvey has wreaked havoc across the Southern United States, causing severe flooding and breakdowns in all sorts of essential infrastructure such as transport and communication. At some point, there seems to have been an erosion of the unwritten rules that form our social norms, and at the surface, it can appear that there are profiteers seeking to make a quick buck out of the desperate – price gouging.
It’s often disappointing to see governments bailing out financial institutions. “Let them fail!”, the public cries out. However, is this alternative any better? Moral hazard explores the consequences of banks knowing they can get away scot-free if things go belly up.
This article first appeared in Short Supply 2017 – check out the full magazine via the Short Supply tab at the top of this page!
Parking at Monash is terrible, but it’s not because the administration hates you. Justin Liu explains why there’s literally nothing anyone can do about it.
Enough is enough. Stop judging me for ordering Coke Zero with everything, stop telling me that it’s bad for me. Justin Liu defends his favourite beverage from the naysayers and haters out there.
Uber is practically a staple of modern transport, but its meteoric rise has come at a cost.
Game theory is used everywhere today, but few people could have guessed that John Nash’s theories could be so universally applied. Justin Liu reiterates the importance of theory in a modern context.
In Part 1, Justin outlined the novel business model of music-streaming services.
The picture of the music industry painted so far is rather bleak—it’s difficult for an artist to earn money.
Last year, Taylor Swift took a stance against the rapid rise in music-streaming services and pulled her immensely popular albums from Spotify, signalling that streaming music services weren’t sustainable for artists.