Episode 131: Can Incentives Save the World?
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The Importance of Market Incentives in Regulation
The fda can make two kinds of mistakes they could let a bad drug go through onto the market or they could keep a good drug off the market. The food and drug administration doesn't have the kind of incentives they need to regulate in a manner that takes everything into account, he says. He adds: "Following their incentives they air too much on the side of caution"
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