What we’re reading (5/6)
“The Vaccine Liberation Movement Gets A New Ally” (DealBook). “The Biden administration reversed course yesterday and came out in favor of suspending patent protections for Covid-19 vaccines. The move pits policymakers against drug companies, as infections in India, South America and elsewhere spiral, highlighting the urgency of more widespread vaccination.”
“Patents Are Not The Problem!” (Marginal Revolution). “Patents are not the problem. All of the vaccine manufacturers are trying to increase supply as quickly as possible. Billions of doses are being produced–more than ever before in the history of the world. Licenses are widely available…[p]lastic bags are a bigger bottleneck than patents…[t]he US trade representative’s announcement is virtue signaling to the anti-market left and will do little to nothing to increase supply. What can we do to increase supply? Sorry, there is no quick and cheap solution. We must spend.”
“Millions Are Unemployed. Why Can’t Companies Find Workers?” (Wall Street Journal). “Hiring has been robust recently, despite the labor shortfall. U.S. employers added 916,000 jobs in March, according to the Labor Department, and economists project that the April jobs report, due out Friday, will show employers added 1 million more. Still, the shortage threatens to restrain what is otherwise shaping up to be a robust post-pandemic economic recovery.”
“U.S. Productivity Rebounds In First Quarter” (Reuters). “U.S. worker productivity rebounded in the first quarter, depressing labor costs growth, but the data has been severely distorted by the COVID-19 pandemic to provide a clear trend. The Labor Department said on Thursday that nonfarm productivity, which measures hourly output per worker, increased at a 5.4% annualized rate last quarter. Data for the fourth quarter was revised higher to show productivity falling at a 3.8% rate instead of the previously reported 4.2% pace.”
“Twitter Makes All Of Its Money From Ads. It’s Trying To Change That.” (Vox). “Twitter has been a free service for its users ever since it launched in 2006. Now it’s getting more serious about getting you to pay up, via an optional subscription service it’s building.”
