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All Journal Journal The Winners
Walter E. Block
Loyola University New Orleans
Social Sciences

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Medical Economics: End the FDA (Food and Drug Administration) John Romanach; Walter E. Block
The Winners Vol. 18 No. 1 (2017): The Winners Vol. 18 No. 1 2017
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/tw.v18i1.4052

Abstract

The aim of this research is to know what FDA was done to get pure food and drug. Was it to put all the eggs in one basket and entrust the objective to a monopolistic agency which suffers no financial losses when it errors or would the authors be better off relying on a private, competitive certification industry, the firms of which can earn profits for accurate assessments and losses for erroneous ones? Ensuring the quality of pharmaceuticals was concerned, the best and most efficient means toward that end was reliance on free enterprise. The method used was the literature review by applying what the authors knew about the difference between competition and monopoly to an arena where all too seldom was it applied. It finds that the FDA cannot eliminate risk; only deny people from taking the calculated risk in the hope of curing disease. Legislation such as the Compassionate Freedom of Choice Act has been introduced with the intention of empowering patients to make informed decisions and allow them to take drugs not approved by the FDA.
Medical Economics: Legalize Organ Markets Justin Callais; Walter E. Block
The Winners Vol. 18 No. 2 (2017): The Winners Vol. 18 No. 2 2017
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/tw.v18i2.4222

Abstract

The article argued to the contrary that at least insofar as organ transplants were concerned, this general assumption lied 180 degrees away from the truth. The first reaction of most concerned people, at the prospect of buying and selling human body parts, was one of revulsion. And, yet, this was the tried and true means that used for supplying more pedestrian goods and services. The article was the economic principles responsible for adequately making available to us such as items such as apples, shoes, and gardening services were the best ones in this case as well. The method was to argue that the institutions responsible for most goods and services in the economy that the last best hope for solving the problems that faced transplants of human body parts. The researchers consulted google scholar and mises.org and generated in this manner and cited almost a dozen publications which discussed the relevant subject matter and commented on several of them. It finds that Pro-organ sellers have a long way to go, but with determination and logic, one day the world will find a place for organs in the free-markets. And, then, many lives will be saved.
Co-Authors John Romanach Justin Callais