3 ms·
This makes my point exactly. The cure is to oppose the FDA. Immoral businesses love regulations because they provide huge barriers to entry for new competitors
by maxharris 16y ago
This makes my point exactly. The cure is to oppose the FDA.
Immoral businesses love regulations because they provide huge barriers to entry for new competitors. Observe how GSK uses the FDA and other regulatory agencies to shield themselves. From the article you linked:
"GSK's manufacturing division has a strong track record of quality and compliance with current Good Manufacturing Practice (cGMP) requirements. Various regulatory agencies - including the FDA - conduct an average of more than 100 inspections each year at over 80 GSK manufacturing sites located in over 30 countries. The FDA has raised no material issues as a result of its very thorough inspections.
...
GSK worked to bring the Cidra facility to a high level of operating performance that satisfied both GSK and the FDA."
We need to separate the state from economics, just like we separate it from church. Unscrupulous companies (not all of them are this way) use and promote regulations to keep their competitors down, and to escape legal reprecussions that they should properly face (just as your article demonstrates). Remember that Enron lobbied for strict price controls on rates charged for access to power grids. (http://www.theatlantic.com/past/docs/issues/2002/04/orourke.htm http://www.theatlantic.com/past/docs/issues/2002/04/orourke....)