EpiPen, round three: Greed and misplaced blame.

EpiPen, round three:  Greed and misplaced blame.

How can we get better availability of life-saving products?

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Clearly showing, over the last 20 years, that heavily regulated industries have higher prices, more regulated choices, more concentration of suppliers, and relatviely freer industries (but not totally free) have more choices and therefore, more innovation, and lower prices overall.

Worldwide, this is borne out writ large if people care to look. The most extreme cases of central planning, the Soviet Union and Maoist China, had the least developed supply chains, the lowest availability of items of need or want, and people frankly starving, whether by the lack of goods production, or by the totalitarianism necessary to maintain substantial restrictions on people’s freedom to do as they please, rather than what the elites demand.

So Tom claims he is entitled to cost-free and completely risk-free products (“The FDA was brought into existence explicitly because of dangerous, life ruining products”), and the right to tell others what they can and cannot do for a living. The free market is “utopian”, but this land of unlimited, risk free products is rational and expected when the producers choices are severely restricted. Mylan is greedy, Tom is not?

I agree, people are greedy. Of course, they’re greedy universally, not just in Pharmaceuticals. When the oil prices declined dramatically in the past few years, did the oil companies greed suddenly go away? So in light of the greed, the questions are 1) what is the most ethical way of dealing with this greed? and 2) How can we minimize the impact of this greed, consistent with #1?

My answer is complete freedom of producers and consumers; government causes the problem. Tom’s answer seems to be, in spite of years of government meddling and evidence to the contrary, “more government”. Once again, to quote Robert LeFevre, “Government is a disease masquerading as it’s own cure”.

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