A common problem in policy circles is that government protections that redistribute income upward are defined as part of the market, and getting rid of them or weakening them is described as government intervention. This issue comes up most frequently with government-granted patent monopolies with prescription drugs. Any measure to lower prices by weakening patent monopoly protections is treated as a government intervention, while the patent monopoly itself is treated as the free market. And, ju...
Published on October 17, 2020 06:20