Thomas Sowell

We are apparently supposed to follow those countries' example without asking about the months that people in those countries spend on waiting lists for medical treatments that Americans get just by picking up a phone and making an appointment.

It is amazing how many people seem uninterested in such things as why so many doctors in Britain are from Third World countries with lower medical standards -- or why people from Canada come to the United States for medical treatment that they could get cheaper at home.

Government price controls on pharmaceutical drugs are more of the same illusion of something for nothing.

People who are urging us to follow other countries that control the prices of medications seem uninterested in the fact that those countries depend on the United States to create new drugs, after they destroyed incentives to do so in their own countries.

Since it takes more than a decade to create a new drug, a politician can be elected president by hyping price controls on drugs, spend eight years in the White House, and be living in retirement before people start to notice that we no longer get the kinds of new medications that successively conquered deadly diseases in the past.

Thomas Sowell

Thomas Sowell is a senior fellow at the Hoover Institute and author of The Housing Boom and Bust.

Creators Syndicate