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.
Are immigrants taking our jobs and living off the taxes we pay? Are they criminals? Television personality John Stossel (Host of Stossel on Fox Business Network) interviewed Benjamin Powell, Senior Fellow at the Independent Institute, Director of the Free Market Institute at Texas Tech University, and Editor of the book, The Economics of Immigration.
Research Fellow Jonathan Bean, author of Race and Liberty in America: The Essential Reader appeared on WORD radio to discuss Bean's recent Op-Ed about his experience on the Illinois State Advisory Committee on Civil Rights. On Martin Luther King Day, Bean says King's dream of a more just society is poorly served by ignoring viewpoints that disagree with our own.
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.