Bartley J. Madden, Free to choose medicine: Better drugs sooner at lower cost (2nd edition)

Bartley J. Madden, Free to choose medicine: Better drugs sooner at lower cost (2nd edition) Rev Austrian Econ (2014) 27:221–223 DOI 10.1007/s11138-014-0265-9 Bartley J. Madden, Free to choose medicine: Better drugs sooner at lower cost (2nd edition) Naperville, IL, LearningWhatWorks, 2012, xvi + 88 pages. USD 12.59 (paper) Zhilong Ge Published online: 26 February 2014 Springer Science+Business Media New York 2014 The Food and Drug Administration (FDA) is the federal agency responsible for the health and medical safety of American citizens. As part of the FDA’s mission, it oversees the drug approval process in the U.S.—it requires every new drug to undergo multiple layers of safety-testing and risk-evaluation before they can obtain the approval for marketing. By virtue of this, it is able to screen out medicines that pose great risks. In other words, its role is to protect public health from the potential conflict of interest that may emerge in a profit-seeking market. Despite this role, Bartley J. Madden argues in his book Free to Choose Medicine: Better Drugs, Sooner, at Lower Cost, that rather than serving the interests of patients, the FDA actually hurts Americans due to its long and demanding drug-approval process. He contends that the agency’s primary motivation has become to preserve its own reputation and to minimize its liabilities. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Austrian Economics Springer Journals

Bartley J. Madden, Free to choose medicine: Better drugs sooner at lower cost (2nd edition)

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Publisher
Springer US
Copyright
Copyright © 2014 by Springer Science+Business Media New York
Subject
Economics / Management Science; Public Finance & Economics; Political Science, general; Methodology and the History of Economic Thought
ISSN
0889-3047
eISSN
1573-7128
D.O.I.
10.1007/s11138-014-0265-9
Publisher site
See Article on Publisher Site

Abstract

Rev Austrian Econ (2014) 27:221–223 DOI 10.1007/s11138-014-0265-9 Bartley J. Madden, Free to choose medicine: Better drugs sooner at lower cost (2nd edition) Naperville, IL, LearningWhatWorks, 2012, xvi + 88 pages. USD 12.59 (paper) Zhilong Ge Published online: 26 February 2014 Springer Science+Business Media New York 2014 The Food and Drug Administration (FDA) is the federal agency responsible for the health and medical safety of American citizens. As part of the FDA’s mission, it oversees the drug approval process in the U.S.—it requires every new drug to undergo multiple layers of safety-testing and risk-evaluation before they can obtain the approval for marketing. By virtue of this, it is able to screen out medicines that pose great risks. In other words, its role is to protect public health from the potential conflict of interest that may emerge in a profit-seeking market. Despite this role, Bartley J. Madden argues in his book Free to Choose Medicine: Better Drugs, Sooner, at Lower Cost, that rather than serving the interests of patients, the FDA actually hurts Americans due to its long and demanding drug-approval process. He contends that the agency’s primary motivation has become to preserve its own reputation and to minimize its liabilities.

Journal

The Review of Austrian EconomicsSpringer Journals

Published: Feb 26, 2014

References

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