Monday, January 17, 2011

South Korea's Drug Cartel

It's called the Korea Pharmaceutical Association (KPA), and it's blocking proposals "allowing supermarkets and convenience stores to sell OTC drugs, such as aspirin, antacids, cough syrups and allergy medication" — The fight to put aspirin in convenience stores. "Drug sales in Korea are currently limited to pharmacies," and although "[c]ivic groups have called for liberalization," there is "fierce opposition from pharmacists."

Another example of anti-market businesses that rely on state power to quash competition.

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Blogger Steve Hayes said...

Of course in a perfect free market system there would be no pharmacists. Why undergo all that expensive training when you can make more money selling snake oil laced with melamine?

1:02 PM  
Blogger The Western Confucian said...

Such examples are part of American state education, to indocrinate us in the idea that without government regulation we'd all be doomed.

What's left out of the narraative is how cartels like the American Medical Association used state power to shut out competetion by having Black medical schools in the South closed and by having the age-old practice of midwifery criminalized.

Snake oil salesman will always be with us, but a free market medical system would open a lot of doors to traditional and alternative medicical practices.

And what's wrong with self-regulation? In a lot of communities, people do not trust government certification of organic foods, prefering private regulation, which is stricter. Observant Jews have done a great job self-regulating kosher foods.

1:49 PM  

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