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.
Full Video of The Independent Institutes 2011 25th Anniversary Gala for Liberty held November 15, 2011. Part 1: Introductory Remarks and Tribute to Robert Higgs Part 2: Tribute to Mario Vargas Llosa Part 3: History of The Independent Institute and Fund for the Future Part 4: Tribute to Lech Walesa Part 5: Special Tributes, Sponsors, and Credits
Was George W. Bush the worst president ever? Ivan Eland examines Bushs presidency and those of his predecessors to determine if their policies promoted peace, prosperity, and liberty while upholding the Constitution they swore to protect.