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.
Senior Fellow John C. Goodman, author of A Better Choice
is interviewed about Texas Congressman Pete Sessions proposed alternative to Obamacare. Its legislation that will fix problems with the healthcare system that the Affordable Care Act failed to do. Instead of subsidies, everyoneregardless of incomewill be treated equally. Under the proposed plan, which Goodman is helping to craft, the healthcare marketplace will be utilized to lower costs to consumers, with government playing a minimal role.
Robert Higgs discusses our most recent economic recovery and some thoughts on how Keynesians explain events in American economic history. Higgs is author of the book, Taking a Stand: Reflections on Life, Liberty, and the Economy (2015).
Produced by Cato Institute
Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License.
David J. Theroux, Founder and President of the Independent Institute, presents the idea and concept behind Love Gov: From First Date to Mandate, the award-winning, satirical video series that portrays the federal government as an overbearing boyfriend Scott Gov Govinsky who foists his good intentions on a hapless, idealistic college student, Alexis Smith.
To watch the web series, follow this link
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.
In this "Special Report with Bret Baier" for Fox News, Independent Institute Senior Fellow John C. Goodman analyzes the Republican candidates' discourse on repealing the Obamacare program and discusses how are they going to do it.
Sr. Fellow Ivan Eland is interviewed on Doug Stephan's nationally syndicated radio show "Good Day" program. The discussion centered around the Republican Presidential Debate on Aug. 6, 2015. Eland saying the Republican candidates should be concentrating on foreign policy.
Independent Institute Senior Fellow John C. Goodman talks about his new Independent book, "A Better Choice: Healthcare Solutions for America," on how to replace the Affordable Care Act with market-based solutions. Hosted by Michael Cannon, the discussion was held on July 22, 2015, at the Cato Institute in Washington, D.C.