By Kent Bernard –
Recently there has been a lot of discussion about the high cost of prescription drugs. Some of that commentary is thoughtful and informed. Much of it is not. What people are often focused on are the symptoms of the market failure, not the causes. High prices are a symptom; market power is a cause. If you want to make headlines, shout about the symptoms. It makes everyone feel good, but it doesn’t do very much at all. If you want to have actual reform, you have to deal with the causes and not just the effects.