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 Vice President Mary L. G. Theroux was a guest on KPCC radio to discuss California's effort to repeal the "maximum family grant" rule for welfare recipients with children. Families that have more children while on welfare do not receive an increase in their grant. This could be reversed by a new law proposed by Calif. State Senator Holly Mitchell, who was also a guest on the show.
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.
Research Fellow Stephen P. Halbrook, author of Gun Control in the Third Reich, appeared on Gun Talk Radio with Tom Gresham. Halbrook talks about the Second Amendment and the traditions of liberty and limited government.
Sr. Fellow Bruce Benson, author of The Enterprise of Law appeared on the Tom Woods radio show to speak about the increasing frequency of private police in areas of our society. In an upcoming article in The Independent Review, Benson will update some ideas about private, market-based justice processes and less government police abuse.
Sr. Fellow John R. Graham appeared on the Joy Tiz radio show. Graham talks about the new Healthcare Contract with America, which relies on free market solutions to solve the healthcare crisis. Using examples from the landmark book by Sr. Fellow John C. Goodman, Priceless: Curing the Healthcare Crisis, Graham describes ways in which Americans can take control of their healthcare.