Tuesday, November 09, 2004

Always look on the bright side of life

The election is over, and the candidate I voted against did not lose. So now it's time to look on the bright side. One thing that I believe is less likely to happen with Bush in the white house than with Kerry is price regulation of prescription drugs.

Treating the drug companies as villains is one of my pet peeves. Yes, I wish the drug companies would spend more resources developing vaccines, and less on slick marketing campaigns for doctors, and I'm all in favor of designing a system to give them right incentives in these areas. But I don't begrudge drug companies their profits...I hope they're profitable enough to attract lots of new investment into that business! Drug research has huge benefits, and I would like to see more investment in this area, not less.

It is also annoying when people talk about how drugs are getting more expensive. What is happening is that there are lots of new drugs that people want. The drugs we have today will only get cheaper and cheaper as patents expire and new competing drugs emerge.

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