Saturday, October 29, 2005

Just a small part of the iceberg

Whatever the risk, some good will come out of
this public alarm if we use it as an opportunity
to understand why the U.S. is now so poorly armed
to cope with a deadly flu outbreak. The reason is
that our political class has spent the past 30
years driving the vaccine industry out of
business with its own virus of over-regulation,
price controls, litigation and intellectual-
property abuse.
When one pharmaceutical company offered to sell
a new pneumococcal vaccine to the government for
$58 a dose, the Centers for Disease Control
demanded a $10-a-dose discount. Politicians want
companies to take all the risk of developing new
vaccines, but they don't want the companies to
make any money from taking those risks. Then the
politicians profess surprise and dismay that
there's a vaccine shortage.

Soon to come for the same reasons:

Rising prices due to less oil, food, and an unknown
host of other things.

Your politicians and bureaucrats pay no cost for
being wrong.

You'll be picking up the tab.

Full article.