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Tuesday, July 19, 2005

no evidence

Alex Tabarrok makes an important point in his post, "Rx for OTC". In arguing for greater access to prescription drugs, Professor T. states, "there is no evidence that the costs of potential mistreatment outweigh the costs of undertreatment". I wish he had backed that up with a link, since it is such a bold statement. I don't doubt that it's true, since government regulations rarely have benefits that outweigh their costs, but I'd like to know what kind of studies back that up.

UPDATE: Professor Tabarrok does indeed provide a link to an article by Sam Peltzman, "The Health Effects of Mandatory Prescriptions", in the Journal of Law and Economics, Vol. 30, No. 2 (Oct., 1987). Since I don't have acess to JSTOR, I guess what I should have said was, "I wish I could read the article that was linked to".

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