Drug Price Controls Inflict Worse Harm Than Even Critics Recognize
It's no secret that H.R. 3 -- the Democrats' plan to impose price controls on prescription drugs -- would have devastating consequences for our healthcare sector. After all, artificially restricting the price of any product invariably leads to shortages, rationing, and a slowdown in both investment and innovation. A new study from University of Chicago economist Tomas Philipson shows H.R. 3 would not just slow down drug development but essentially stop it altogether. Yet Democrat leaders are continuing their push to include H.R....