Article • Dean Baker’s Beat the Press
Fact-based, data-driven research and analysis to advance democratic debate on vital issues shaping people’s lives.
Center for Economic and Policy Research
1611 Connecticut Ave. NW
Suite 400
Washington, DC 20009
Tel: 202-293-5380
Fax: 202-588-1356
https://cepr.net
Morning Edition had a nice piece on the large and growing black market in prescription drugs as people increasing turn to sellers outside of the United States to buy drugs at prices that are far lower than the patent protected prices in the United States. As the piece explains, the drugs purchased through these channels are of uneven quality. This is exactly how economic theory predicts people would respond to a government intervention that raises drug prices by many thousand percent above their free market price.