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.
Independent Institute Senior Fellow John C. Goodman, author of "Priceless: Curing the Healthcare Crisis" was interviewed on World News Radio to comment on the average person's penalty for not having health insurance under the Affordable Care Act.
Sr. Fellow Benjamin Powell appears on Vancouvers CKNW radio to discuss the one year anniversary of the Rana Plaza factory collapse in Bangladesh. Powell talks with host Mike Eckfordabout conditions in clothing factories in Bangladesh and markets for labor and the products manufactured there.
Sr. Fellow John C. Goodman, author of Priceless: Curing the Healthcare Crisis, appeared on Chicagos WLS radio. In an interview with Bruce Wolf and Dan Proft, Goodman tells listeners why todays healthcare system is in crisis, and how insurers, patients, and healthcare providers can benefit from free-market delivery of care.
What will the economy be like in the New Year? Sr. Fellow Benjamin Powell appears on Fox Business Network's "The Independents" show to give his impressions of the deficit, bureaucracies, and economic recovery. Powell talks about long term trends and says Big Government policies are effecting the outlook and the "New Normal" in the economy.
John C. Goodman, author of Priceless: Curing the Healthcare Crisis, appeared on the Sean Hannity radio program on Thursday, October 31. Goodman discusses alternatives to Obamacare, as outlined in his book "Priceless." If patients control their healthcare, then providers can compete on quality and price, instead of government bureaucracies dictating healthcare choices to consumers. Jay Sekulow of the American Center for Law and Justice also joined the discussion.