I suspect the "lower quality at lower cost" issue is regulatory. The FDA requires that new pharma (and soon will enforce this for devices) provides better outcomes than existing drugs. They do not consider costs. Generics are supposed to take care of that. So, no R&D driven company will invest in new med technology that is unlikely to be approved. Change the regulatory incentives and you may be able to introduce some new innovations.
posted by Carolyn Merkel
March 8, 2010
About once a month at Sigma Xi headquarters, we liven up the lunch hour with an American Scientist Pizza Lunch talk. In these informal lectures, scientists describe new research to nonscientists. The series is light on jargon but heavy on solid science. Each Pizza Lunch offers an in-depth look at its subject, whether it's bedbugs or the smart grid. Click below to read about and download these talks -- and to subscribe!
JSTOR, the online academic archive, now contains complete back issues of American Scientist from its inception in 1913 (as Sigma Xi Quarterly) through 2005.
The table of contents for each issue is freely available to all users; those with institutional access can read each complete issue.
View the full collection here.