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by ataggart
4877 days ago
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Counterfactuals are hard, but I wonder if anyone has studied whether or not the FDA is actually a net saver of lives. It seems to me that every time the FDA approves a new drug that will save X lives a year, it has necessarily cost X lives every year that the drug was delayed in the mandatory approval pipeline. If FDA approval was optional (perhaps requiring a big "NOT FDA APPROVED" label), would the number of people who die from taking unapproved drugs (and who otherwise would have lived) be more than the number who die from being denied a drug (and who otherwise would have lived)? As I write this, it reminds me a bit of the IP issue, and whether the patent system really is a net benefit or not. |
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http://www.cato.org/pubs/regulation/regv27n2/v27n2-8.pdf
http://marginalrevolution.com/marginalrevolution/2011/10/and...
http://fdareview.org/harm.shtml
Ultimately this boils down to a classification problem. There will be type I and type II errors associated with any kind of centralized approval process. And when studied in its totality, there is quite a bit of evidence that the type II errors are predominating: good drugs being slowed or denied.The only way to prove this definitively is a side-by-side experiment with a new jurisdiction in which patients and entrepreneurs alike are free to choose and the FDA has no power.