The Magazine

The High Price of Cheap Drugs

The House is tempted by a terrible idea.

Jul 21, 2003, Vol. 8, No. 43 • By JOHN E. CALFEE
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Congress should dismiss all possibility of these scenarios by rejecting the drug importation legislation. It should not fall into the trap of thinking that as long as controls over U.S. prices were introduced by the government of a foreign country, we would still have a free market. We wouldn't have a free market, and we wouldn't get the benefits of one.

John E. Calfee is a resident scholar at the American Enterprise Institute and the author of "Prices, Markets, and the Pharmaceutical Revolution" (AEI Press, 2000).