Posted by Michael Wonder on 30 Oct 2019
Forced drug prices are not the answer to health care costs
30 October 2019 - Stick around long enough and all bad ideas have a way of repeating themselves.
The latest is the attempt to cut the cost of expensive medication by having the government negotiate prices. It’s deja vu all over again.
In the 1970’s OPEC nations punished the USA for support of Israel during the Arab-Israeli war by imposing an oil embargo. President Nixon imposed price controls on oil and gas, contributing to a shortage and long lines that wrapped around the block. President Carter described the oil crisis as “the moral equivalent of war.”
Responding to the shortage forced rationing whereby cars with a license plate ending in an odd number could only purchase gas on odd dates, and even numbers on even dates.
