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2min chapter
Daniel Carpenter on Smart Regulation
Conversations with Tyler
The Role of Beliefs in Medicine
In a world where the fda didn't exist, there would be no incentive to randomize clinical trials. You aunt to get the seal of a prove all right, that's one reason to do a trial. But why if you don't, if you can just go and sell it off line and then advertise your way into the market place? This is exactly the way the patent medicine industry worked. Well, look at desle all the ar inde. They've done to a better version of their car, which they sell for a higher price. And drugs are credence goods. We can't really know whether or not, even if we were cured, the drug was the cause
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