Posted on 09/15/2004 10:36:04 AM PDT by PastaBagel
A new book proposes regulating drug prices to limit the profits from greedy drug companies. The problem is that if you regulate the prices, no one is going to invent the drugs.
In the book, she concludes, through some attenuated convolution of post-Marxist platitudes, that drug companies are “bad” because they made a lot of money developing pharmaceuticals to treat your ailments.
But why won’t these people go on the record now and advocate restricting the prices and patent rights for future drugs? Why won’t they just say “We believe cancer medication should cost no more than $X per month.”
Because of the magic word strategic behavior. These blowhards know that if they propose a new rule that would subject drugs that haven’t been invented yet to price controls and mandatory patent licensing, then the drug companies aren’t going to invest the money now to invent those drugs in the first place. Why would they invest the money, if the policy won’t let them reap the benefit?
If you regulate drug prices, new life-saving drugs won't be invented, and people will die. But cancer will be blamed, not the regulation.
read the full article at pastabagel.com
THEY CALL ME PASTABAGEL
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