“Pharmacists say they have been losing money under Medicare's new prescription drug benefit, and they have taken their concerns to the White House, forcing the administration to confront political problems caused by the rocky start of the program.” (New York Times, Monday)
In the words of Mises: “Economics does not say that isolated government interference with the prices of only one commodity or a few commodities is unfair, bad, or unfeasible. It says that such interference produces results contrary to its purpose, that it makes conditions worse, not better. . . .”
FEE Timely Classic
by Sheldon Richman