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Let's not pretend that there's a properly functioning market here. The only reason for the price hike is to line pockets, not because demand fell or it suddenly
by vinceguidry 10y ago
Let's not pretend that there's a properly functioning market here. The only reason for the price hike is to line pockets, not because demand fell or it suddenly became that much more expensive to produce.
- gwright 10y agoA critical element of a free market is competition. Without competition you don't really have a fully functioning market mechanism at work. So in that sense there is not a properly functioning market. Comments in this discussion seem to fall into two categories: 1) free market has failed, lower the price via administrative fiat 2) free market doesn't exist, adjust regulations to encourage competition One suggestion I have is to simply allow non-FDA approved devices to be sold but to be clearly labeled as not having been evaluated by the FDA. This would allow the market mechanism to put pressure on the FDA approved vendor. Re-thinking the FDA approval process is also a possibility, or even providing different types of FDA labeling (e.g., experimental, provisional, approved) based on different stages of the FDA process.