What is the cost of the long approval process for potentially life-saving drugs by the FDA? The approval process can take up to 12 years and cost $1 billion. But there are other costs. Patients arent able to take drugs that arent approved and they might die or become more ill. Another cost is that a potential drug maker might not want to take the financial risk of taking a drug to market. Powell recommends testing drugs but possibly making drugs "FDA recommended", rather than "FDA approved." Whats needed is competition and markets to help patients and entrepreneurs, says Powell.
"Crisis, Leviathan, and the National Security State" by Robert Higgs was a speech sponsored by The Future of Freedom Foundation February 15, 2014 at the 2014 International Students for Liberty Conference in Washington D.C.
Civil Liberties in an Age of Terrorism: A special evening with our "Challenge of Liberty Summer Seminars" students and featured by C-SPAN's Book TV. Watch this eye-opening, timely discussion on the recent revelations of systematic government spyingincluding NSA accessing of phone records, USPS photocopying the exterior of all mail, and the dangers posed to liberty and security by these and other such unchecked and unconstitutional powers.