E lection years are good for political consultants, but bad for everyone else. Concern about the nation's rising prescription drug bill has set off the usual maneuvering for political advantage.
Critics complain that prescription drugs cost too much.
Yet Americans spend more on alcohol. Moreover, inflammatory estimates of rising prices are often flawed by sampling and other problems. A related criticism is that drugs cost more in the United States than in other countries. Accurate comparisons are rare, however, since prices overseas reflect many things, particularly countries' relative wealth and the politicized nature of their health care systems. Indeed, despite the claims of industry critics, foreign price controls have unpredictable results.