More market fixing
Jul 5, 2009
Bishop Hill in Economics

Timmy notes that attempts by the government to fix prices in the medicines market have had the inevitable consequences: shortages of medicines. Pharmaceutical companies no longer want to sell to banana republics like the UK where the price they receive is artificially held down. So they are selling to first world countries instead.

Still at least they're not messing up something really important, like some governments have.

 

Article originally appeared on (http://www.bishop-hill.net/).
See website for complete article licensing information.