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268. Bad Medicine, Part 1: The Story of 98.6

Freakonomics Radio

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Is There a Breaking Point in Medicine?

In the united states, medicine is something that now takes nearly over 20 % of g d p. We spend more on medicine than any other western nation. Because it's such a large sector of the economy, the intrenched interests for the people who companies and really profit from the current system are tremendously reluctant to change things. I think no one will doubt that the pharmoceutical industry has made some great drugs. They've also made some less than great drugs. But does every drug, great or worthless, have to cost a hundred thousand dollars per year? And i don't invent that number. That's actually the the cost per annum of the average cancer drug being approved in the

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