Canada, a small nation, can regulate drug prices because frankly Canadians aren't depending on Canadian drug companies for the next great medical innovation. Like most of the rest of the world, they depend on America.
The ideal system would find ways to lower cost and other barriers to care for the older generation of medicines, without reducing the enormous incentives high profits create to invent new medical miracles.
Yes, it might mean tolerating "second-best care" for citizens unable to afford to the latest new drugs. But that second-best would be constantly improving as each year, more of today's expensive innovations become tomorrow's cheap generic drugs, hopefully coming soon for $4 a month to a Wal-Mart near you.
Maggie Gallagher is a nationally syndicated columnist, a leading voice in the new marriage movement and co-author of The Case for Marriage: Why Married People Are Happier, Healthier, and Better Off Financially.