Does America Have a Prescription Drug Problem?: The Perils of Ignoring the Economics of Pharmaceuticals
by Richard Epstein on 10/07/2004
16 Pages
Synopsis:
Critics claim the pharmaceutical industry is unique and therefore requires distinctive forms of regulation, such as price controls. But absent in this view is a systematic appraisal of the economics of the industry. Were their approach adopted, the consequences would be less innovation, fewer life-saving drugs, and a less-healthy citizenry than what could be possible.
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