14 June 2018 - Across most markets in our economy consumers can easily obtain and process information regarding products for sale. 

So when, for instance, Ford launches the latest version of the F-150, based on consumer reports and comparative price information, customers can evaluate whether the price is worth it to them. Here, the conditions for an efficiently functioning market are met.

There is competition, free flow of information regarding the product’s characteristics, and transparency regarding pricing. Not so with prescription drugs.

Read Forbes Magazine article