The drugmaker KV Pharmaceuticals has decided to drop the price of a pregnancy drug after public outcry. From ABC News: Bowing to heavy pressure from the medical community and the Food and Drug Administration, KV Pharmaceuticals slashed the cost of its pricey drug to prevent premature births, Makena, today by half. KV cut the price [...]

This is a rare piece of good news reflecting the positive impact investigative journalism and public outcry can have. The Food and Drug Administration has partly reversed its horrible decision to grant a drug company an exclusive monopoly over an already commonly used medication, which allowed that company to jack up prices 15,000%. From the [...]

I’ve found the absolute best way to make incredible profits is to first convince the government to grant you a monopoly (in this case through the patent system) for an essential service, and then fight to make sure the government never puts in place any form of price control over your product. The story of [...]