GENEVA—Despite delivering extraordinary gains in the fight against child mortality and diseases such as HIV, polio, and malaria, the global health system has come under strain not only from shrinking resources but also from unprecedented scrutiny and rising expectations.

Timothy A. Clary/AFP via Getty Images Economics 0 Is the US Stock Market Too Big? Jim O'Neill identifies big discrepancies between major economies' shares of global GDP and domestic equity valuations.

Is the US Stock Market Too Big?

Andrii Dodonov/Getty Images Longer Reads 3 Cognition for Sale Sami Mahroum argues that AI is transforming the economics of expertise, separating independent thinkers from everyone else.

Fabio Moderno Economics 2 SpaceX Is the New East India Company Alessio Terzi & Stefano Marcuzzi consider lessons from the three-century era when corporate monopolies operated beyond the reach of sovereigns.

SpaceX Is the New East India Company

Critics rightly point out that today’s global health architecture is fragmented, costly, and not always responsive to evolving needs. Donor and recipient governments, as well as other funders, are increasingly demanding a more efficient system that reduces duplication, breaks down silos, empowers country leadership, and supports national health systems.

To be sure, these reforms are necessary. But overhauling the global health system requires being clear about its core functions, one of the most important of which is scaling innovation. We cannot meet today’s health needs—let alone tomorrow’s—with........

© Project Syndicate