Economics of climate change

The Stern review is the most comprehensive economic based report into the impacts of climate change, it also explores possible actions which need to be taken and the consequences of taking no action. Lord Stern is British economist.

The Stern Review states "our actions over the coming few decades could create risks of major disruption to economic and social activity, later in this century and in the next, on a scale similar to those associated with the great wars and the economic depression of the first half of the 20th century. And it will be difficult or impossible to reverse these changes."

One of the considerations of climate change action by Stern is that developing nations should have the opportunity to reach the same level of living standards as developed nations.

Stern recently updated his report to say that 2% of GDP needs to be invested to avoid the worst impacts of climate change.

Investigation into medical devices

A good example of the ability of self regulation to control its own behaviour has been llustrated via a recent investigation into medical devices. Trips to Germany, payment for a polo festival, doctors flown to the airport in a helicopter to avoid peak hour traffic and extraordinarily large consultancy fees. All of these behaviours have been found to exist in Australia as the pharmaceutical companies attempt to influence the purchase and supply of medical devices to patients/ consumers. Whilst the regulation of the goods themselves is controlled by the Therapeutic Goods Administration (TGAct 1989 and recent Therapeutic Goods Am (Medical Devices) 2002 the adverse situations which occur need to be reported by the supplier . The figures below show the increase in injuries and casts questions on this self regulated system.

Medical devices include a wide range of products such as medical gloves, bandages, syringes, condoms, contact lenses, in vitro diagnostic devices, disinfectants, X-ray equipment, surgical lasers, pacemakers, dialysis equipment, baby incubators, heart valves. Some of these are actually placed inside a patient and most would be reluctant to challenge a doctor about the brand specified of a pacemaker. To read the articles see the following links
Drug Mone hurts our credibility 7th Sept 09
Meals, trips used to sway choice of devices 7th Sept '09
Kicbacks, kickoffs at World Cup 8th Sept'09

The most telling criticism is to the SMH from a doctor.

Regulation needed to make device advice transparent

News that the medical devices industry is paying millions to doctors for entertainment and ''consultancy'' fees should come as no surprise, given we have heard it all before with the pharmaceutical industry (''Meals, trips and transport used to sway doctors over implants'', September 7). The latter industry self-regulates via a code with holes in it that one could drive a semitrailer through.

Both the pharmaceutical and devices industries have a duty to do everything they can within the law to make a profit for their shareholders. They do it through influencing doctors. We doctors are human and, like everyone else, we are influenced by marketing and money. The effect is that taxpayers pay for drugs and devices that at best are the most expensive choices and at worst lead to unnecessary deaths.

When will the Federal Government step in to regulate this dangerous and inefficient system?

Tim Woodruff President, Doctors Reform Society, Richmond (Vic)