In February, the National Economic Council produced a “whitepaper” on prescription drug costs. I was especially struck by their justification for the sky rocketing cost of prescription drugs.
They argue that any price for a new drug is correct because “a longer life could not be bought at any price and is priceless.” Therefore, the new drug reduces the price of “a longer and healthier life” to the price set by the Seller.
The logical syllogism asserted is:
With no available drug the “price of health” is “incalculable”;