5 January 2017 - New cures come from private research, not cash dumped into the National Institutes of Health.

Americans who want better treatments for their diseases should be pleased that the lame-duck Congress passed the 21st Century Cures Act, which will promote medical innovation. They should be wary, however, of the $4 billion budget boost that the law gives to the National Institutes of Health.

The assumption seems to be that the root of all medical innovation is university research, primarily funded by federal grants. This is mistaken. The private economy, not the government, actually discovers and develops most of the insights and products that advance health. The history of medical progress supports this conclusion.

Read Wall Street Journal article