[MrB]

The FDA is an example of the “hidden costs” principle of economics.

The cost, in lives and suffering, of withholding drugs from the market, is an invisible and unmeasurable “what if” game. “What if drug XYZ were approved earlier, how many lives would be better or saved?”

But, on the flip side, if a drug is approved “too early” and has some detrimental effects, these costs are visible and measurable.

Therefore, the incentive is to NOT approve drugs.

[Texas Eagle]

Research and development of drugs should be left to a private entity like Underwriters Labratory (UL) which has been testing and giving its seal of approval to new products for decades.

Yes, sometimes a defective product slips through and people are harmed. But that's when the legal system kicks in and serves the purpose it was designed to serve and that will keep UL on its toes.

As it stands, The FDA pays no price for any defective product it lets on the market. And, even if it did, as a government agency, we the people would pay the price.

The free market does everything better.