In (supportive) response to a 1/16/08 TownHall.com article by John Stossel ("Hating Free Enterprise"):
The common sense here is almost too much to take! ;) This article could apply in so many other areas of our lives. For example, getting rid of the monopolistic regulatory power of the FDA, making it at most a certifying authority (but not the ONLY one allowed). Why should they have the monopoly on deciding what is "right" for each and every individual?! If a person dying of cancer wants to take a risk on a potentially life-saving drug (and also potentially help others by becoming a case for its success), why can they not do it? Answer: Because the FDA hasn't allowed the drug to be used yet. If anything, make the FDA a certifying agency, like Underwriters Laboratories, who privately inspects and certifies electrical equipment (just look for the UL emblem). That way, if a person saw that the FDA had certified a certain drug, it might give them more confidence in the drug, just as people look for the UL emblem on electrical equipment. I'm sure private certification agencies could do the job more efficiently than the FDA, but since it already exists, why not take advantage of its existence while at the same time reducing the role of governmental interference in our personal lives?
This blog serves as a forum for the exchange of political and economic ideas. Admittedly, my own views will have a liberal bent to them, and by that term is meant the classical sense of the word (hence the blog title). My own economic and political ideas focus on promoting institutions that protect private property rights and encourage freedom of exchange.
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