The FDA was created to regulate the products on the …show more content…
Over the past years though, their regulation has stretched. It has even killed. According to Milton Friedman, the FDA has killed more people by stopping good medications from making it onto the market than they have saved by denying harmful drugs. Today, standards for FDA regulation go far beyond the health of the average consumer. The power vested into the FDA has caused a corrupt system where the safety does not matter as much as the financial support. Pharmaceutical companies are competing not for the best medication, but for the most profitable pill. The system has run rampant. “The FDA acts as though only its own powers are sufficient to protect the patient in distress. It never considers the possibility that its aggressive intervention may well stand between patients and the medical services they need” said Richard Epstein in response to the FDA’s disapproval of stem cell research. Stem cell research involves somatic cell, or body cells, to be converted into stem cells. According to the Stem Cell Agency of California, those cells can produce any human body part in need of replacement. For example, this could mean the end of 93,000 …show more content…
The general economic philosophy in America is that the higher the price of a service, the lower the demand from the general public. Raising the minimum wage puts American’s personal lives and jobs are at stake. Currently, there is legislation proposed with the intent of raising the minimum wage. However, contrary to popular beliefs, this will not benefit our country. Evidence released by the US Bureau of Economic Analysis during the Great Recession suggests that raising the minimum wage does not help people’s situations in times of economic downturn. In fact, it can worsen the situation, as the Wall Street Journal notes, “A higher minimum wage has the biggest impact on those with the least experience or the fewest skills. That means in particular those looking for entry-level jobs, especially teenagers.” And that’s exactly what happened with the Great Recession, when a six point rise in unemployment occurred, according to the Bureau of Labor Statistics. Increasing the minimum wage requirements have indicated that several negative effects could occur, such as: Increasing the likelihood and duration of unemployment, discouraging part-time work and reducing school attendance, encouraging employers to cut back on fringe benefits, increasing inflationary pressure, and encouraging employers to hire illegal aliens, according to the Cato Institute. At a national level, raising minimum wage is detrimental. States are