Wednesday, June 21, 2006

Hardly A Coincidence

Drug Prices in America are rising at a record pace, the New York Times report. This happens at the same time as Bush's new Medicare prescription drug benefit goes into effect. This correlation in time is hardly coincidential, as this is just what you could expect from any increase in subsidies. Subsidies of anything will increase demand, something which in turn will of course raise prices.


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