2012-07-02

What I've Been Trying To Say, In One Paragraph

This is from Paul Gregory's recent piece on Forbes.com. Here is everything you need to know about socializing the US health care system:
Ninety five percent of the new drugs coming on the market are developed for sale in the United States. They are paid for by American consumers, while other countries, such as Canada, Germany and France, free ride at our expense. The United States is the last major country that allows the market to set prices high enough to compensate pharmaceutical companies for their R&D investments. Obama Care will increasingly control pharmaceutical prices as costs rise and federal and state funds fall short. Major pharmaceutical advances will stop (How well will government labs work?), and the rest of the world will lose along with Americans.