If lawmakers want lower drug prices, they should strengthen competitive pressure, not regulate it into passivity. The politics are easy to understand. Attacking middlemen polls well. It allows lawmakers to appear tough on prices without directly confronting manufacturers. But the economics are less forgiving. Lower drug prices require bargaining power. Congress has just reduced it. Patients and taxpayers will bear the cost.
A concerted buildout of nuclear power left France with one of the least carbon-intensive economies in the world. And then, of course, there was the Minitel. More than a decade before anyone was typing “www” into their web browsers, French users were able to buy train tickets, check film showings, do their banking, play games, find recipes, read their horoscopes, or even log into, yes, erotic chats – la messagerie rose, as it was known.
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