Responding to Coronavirus without limiting freedom

The spread of the coronavirus has been rampant across the globe crippling countries like Italy, Iran, and South Korea where government-run institutions are the ones solely responsible for fighting the outbreak. But, luckily for residents of the United States, our nation operates a bit differently. Because our healthcare system adheres to free market principles, we have the ability to have private industry collaborate with the federal government to help combat the coronavirus which was categorized just last week by the World Health Organization (WHO) as a global pandemic.

Every day in America, researchers from biopharmaceutical companies are working endlessly to solve the world’s most sophisticated medical issues. As the global leader in medical innovation, the world looks to us in times of crisis. The reason being is our free market approach to healthcare has led to massive private investment and unprecedented funding for the research being carried out by the best and brightest scientific minds in the world who are incentivized to work right here in America.

Simply put, thanks to our private healthcare system that has resulted in decades of massive investment from biopharmaceutical companies, the U.S. is uniquely positioned to lead the charge against the coronavirus today and any other epidemic that may threaten our society tomorrow.

The irony of large scale epidemics like coronavirus is the clear realization of why we have the system that we do. Lamentably, several legislators on Capitol Hill have forgotten the importance of our free market approach both domestically and globally.

For example, just last year a bill led by Speaker Nancy Pelosi made its way through the House of Representatives that, if it becomes law, would decimate funding for new biopharmaceutical research and development. HR3, more commonly known as “The Lower Drug Costs Now Act”, would stifle future innovation by implementing socialist style government price controls on biopharmaceutical companies as a way to drive down high drug costs.

The adoption of government price controls in the pharmaceutical space is not only short-sighted but flat-out dangerous to public health. People often ask, “why do we pay more for drugs in the U.S. compared to other countries”, the answer is because we invest more in cures and treatments than any other country, and today, everyone should be very happy about that fact.

It’s terrifying to think what the coronavirus outbreak would look like if HR3 had passed 20 years ago. If we are to survive outbreaks and even outpace them, we must have our research teams working at full capacity at all times. In a world of uncertainty, there is no such thing as over-preparedness.


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