FREE MARKETS, LOWER PRICES: Congress Should Pass The CREATES Act

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FREE MARKETS, LOWER PRICES: Congress Should Pass The CREATES Act

ROBERT S. GRAHAM

FORMER CHAIRMAN OF THE ARIZONA REPUBLICAN PARTY

February 20, 20181:37 AM ET

Whenever a politician starts going on about high drug prices, you can be reasonably sure that talk of price controls will follow. Hillary Clinton and Donald Trump disagreed about many things in the recent presidential campaign, but both signaled that they were open to government-mandated price controls through new Medicare rules.

Fortunately in President Trump’s case “open to” didn’t mean “sold on,” because price controls are a terrible idea. Practically every time, place, and way government price controls have been tried, the well-intended efforts have led to lines, shortages, rationing, black markets, impoverishment, sometimes even death.

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