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Monday, October 10, 2011

Frezza on How Government Intervention is Causing Medicine Shortages

How is that businesses left free of government interference manage to create an abundance of products in every type of industry (can you say i-pad, wide screen tv's, barbecues, etc.) yet, in sectors dominated by government regulation we virtually always see poorer quality products, rationing and shortages (public education, public housing, collectivized farming, etc.)?

Bill Frezza, writing for Forbes, applies this knowledge to the recent shortages in medicine. He writes:
Congress has held hearings to determine what additional authority should be given to the FDA or other federal agencies, in order to give them more power over manufacturers. The paucity of attempts to understand the root cause of the problem reveals the intellectual bankruptcy of that approach.
Indeed, has Congress ever determined the root cause of anything especially when the root cause of the problem is Congress? 

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