Sunday, December 02, 2007

The Cure Is Worse Than The Disease

An FDA report will be discussed tomorrow concerning the agency's poor performance. The agency claims it simply needs more funding which it will use to centralize its work and add management positions.

It would make more sense to return the agency to an advisory status. This would drastically reduce its costs and could accomplish a handful of things really well instead of doing many things poorly.

Throwing money at a problem rarely solves it--the organization must have to have a strong incentive to use resources wisely. Companies have an incentive to make a safe and useful product. Dangerous ones will slip through, but at least the error is self-correcting. When things go bad, the drug is pulled. The FDA, however, is rewarded when it turns out most drugs--even good ones that can save lives. And this error doesn't disappear. People continue to needlessly die.

The question is not if free markets or government is perfect at screening disease. Neither is perfect; it's a useless inquiry. The question is which one is most robust against error: a single government agency or the collective wants and constraints of millions of interacting people.

1 comment:

Dr Purva Pius said...

Hello Everybody,
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.