Returning to the list it was interesting to see Sir Michael Rawlins
confirm that the pharmaceutical industry is a barrier to EBM and to
highlight the links between the debate on openness and industry structure.
On the question of nationalisation I must challenge the consensus that
globalisation means multinationals can eaisly and cheaply transfer
production from one part of the globe to another. Instead factories are
largely immobile once built and skilled workforces require huge relocation
costs. Local infrasturcture is a property of the host nation, as are the
universities and much of the research community. The international movement
of liquid funds is immediate and very cheap, the movement of fixed long term
investments is complex and costly.
James Woodcock
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