Arnold Kling

Attacking the Pharmaceutical Industry

Arnold Kling, Great Questions of Economics
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Doug Bandow points out that the pharmaceutical industry has created a great deal of wealth, and this has made it a tempting political target.

Federal and state officials are seeking to control prices, limit sales, destroy industry marketing networks and undercut patent rights. These efforts could hobble an industry that today dominates the globe while providing manifold health benefits through new drug discoveries.

I also have written on this topic, in Cruel Paternalism.

Discussion Question. Are there ways to reduce the marginal cost of medicines to consumers without destroying the incentives for research?

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