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Senator John Edwards wants government to curb TV advertising by drug companies because he says it is “out of control.” He addressed the subject in a casual remark during his debate with vice president Dick Cheney.
The thinking seems to be that if government forces drug companies to pull up on advertising, then our prescriptions will be cheaper.
This thinking is flawed on several counts.
Does the Senator think that curbing drug advertising would result in “savings” passed on to consumers? Would that happen? Wouldn’t the cost of developing prescription drugs remain the same? And too, why should our government stop any company from advertising what is a legal, moral, and helpful product?
Cars are expensive, too. Should we stop advertising by General Motors, Ford and Toyota? Should we require them to increase rebates that include the saved advertising dollars? Do we really want to meddle and control to that extent?
Gasoline is very high, but if we stop oil companies from advertising, will it result in a lower cost at the pump? Not necessarily so. There are many other crucial factors involved, primarily fears in the market and the cost of buying overseas crude.
The bottom line is this: If government can by law or regulation stop any company from advertising a legal product, then your business can be next. When one class of advertisers is attacked, then actually no one is safe.
Because of our free market, we see great improvements in medicines and many of them are admittedly expensive, but allowing government to regulate drug advertising is a step in the wrong direction.
Edwards addressed drug advertising only in a casual remark, but the passion was there. The effect would be dramatic and far-reaching, affecting all American business.
Steve Marr is the former CEO of the fourth largest import-export firm in the U.S., a company which facilitated international trade for many of the largest companies in America. Currently, Steve consults with with businesses and ministries utilizing ancient Biblical principles for success in today’s marketplace. Click here to contact Steve, or visit his website at www.businessproverbs.com.
