Commentary on Giovanni Apolone's “The Value of a Drug From Innovation to the Payment via Karl Marx”
Uwe E. Reinhardt PhD

$3.95 		Journal of Ambulatory Care Management
March 2008 
Volume 31  Number 1
Pages 56 - 60
 
  PDF Version Available!

ABSTRACT

Reinhardt, Uwe E. PhD

From the Woodrow Wilson School of Public and International Affairs and the Department of Economics, Princeton University, NJ. Corresponding author: Uwe E. Reinhardt, PhD, Woodrow Wilson School of Public and International Affairs and Department of Economics, Princeton University, NJ 08554 (e-mail: reinhard@princeton.edu).

IN his “The Value of a Drug: From Payment to the National Health Service via Karl Marx,” Giovanni Apolone is vaguely on the right track, but he makes his inquiry into the “value” of drugs more intractable with his detour to the notion of “intrinsic value.” This detour seems to head vaguely in the direction of Karl Marx' long-debunked Labor Theory of Value , according to which the intrinsic value of a product is derived from the value of the labor going into its production. In the end, Apolone leaves the reader perplexed when he concludes that ...

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