Stats of the day

Scott Atlas:

Just a decade ago, more than two-thirds of all drug research was conducted in Europe. Now, 60% is conducted in the United States. Because Europe's government-dominated health care systems dictate prices, there is a serious negative impact on innovation. From 1998 to 2002 there were only 44 new drugs launched in Europe, compared to 85 in the United States.

The profit motive drives innovation and increased quality. We need more of this in health care, not less.