> The problem is how does the free market test these kinds of things when there is every incentive to cut corners? The same incentive that makes the iPhone or

> The problem is how does the free market test these kinds of things when there is every incentive to cut corners? The same incentive that makes the iPhone or Model S such poor quality? We don't know the name of the epi pen manufacturer because it does not need to develop a brand reputation, all it needs to do is reach a deal with regulators and collect profits. There is much room for a combination of public and self-interested private watchdog groups. There is no reason why we must rely on only one quality control approach. If things go poorly it can simply sell the patent to another firm who can repeat the same strategy, the only risks being that someone will come up with a better treatment or that regulators will take a dislike to the company... The second of these risks can be reduce through revolving door strategies and the standard regimen of fancy meals, etc.