The problem with the FDA is that if often requires so much proof of safety and effectiveness that the time it takes to bring a new product to market can grow by 3, 4, or even more years. FDA delays into the time that companies have to exclusively produce and sell their products. In recognition…
As a fan of free markets, I recognize that sometimes intelligent government regulations (not always an oxymoron!) can improve markets by requiring companies to provide consumers with information that will help them make better choices. Informed consumers, after all, are a central ingredient of a successful free market. That’s why even most libertarians support regulations…
JoAnn Pushkin’s breast cancer was diagnosed at an advanced stage because the density of her breasts obscured the tumor on her mammograms. That was shocking news to Pushkin, who only learned that her breasts were radiologically dense at the time of her diagnosis. Activated by this revelation, she has become a leading advocate of legislation,…
It was 93 degrees and humid. Jimmy Lawrence put his first five quarters into the vending machine and selected a Coke. The machine refused to give him his beverage. Because the temperature was more than 90 degrees, the computer program within the vending machine had raised the price to $1.50. Is that fair pricing? …(Read…
Here is a video of a webinar in which Avni Shah and I discuss some controversies about what governments should do when consumers harm themselves through irrational behavior. Avni is a doctoral student in Marketing at Fuqua. Check out the bag of sugar she pulls out to illustrate the dangers of big gulp beverages. Feel free to add questions or comments, and I’ll chime in with my additional thoughts.
New York City’s plan to prohibit the sale of large, sugary soft drinks is a brave and provocative policy, one that promotes public health at minimal cost to New York City residents.
Mayor Michael Bloomberg’s announcement last week highlights the kind of tough regulatory action we, as a society, need to make to combat an obesity epidemic that experts say will cause this generation of elementary school children to be the first in centuries to experience a shorter life span than their parents.
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