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Wednesday, December 8, 2010

Obamacare's Unintended Consequence of the Day: Higher Drug Prices for Kids' Hospitals

The New York Times reports on another unintended consequence of Obamacare: Higher drug prices for childrens' hospitals.  (The structure of the article itself is fascinating: One anonymous politician who voted to impose Obamacare on the nation told the reporter that this results from "an honest mistake in drafting."   Sick kids will lose access to medicines because of politicians' incompetence, but they don't even bother to defend their not reading or understanding the legislation anymore.)

Indeed, government controls designed to reduce drug prices usually result in higher prices, a result I discussed in a study written a few years back (available here).  Lower drug prices result from less government control, not more.

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