How does it stifle innovation? Give some examples
you can't make generic drugs if there isn't competition to do so and make money off the "same" drug. This is largely because of patent expiration dates as well.
The government being in charge wouldn't pursue that.
See, i'm not some anarcho-capitalist/libertarian, but we have to understand that in some ventures, you get the best results by letting the best minds work on things.
Government doesn't do that cause it neither pays enough, nor is willing to commit to risk taking like private industry. Government can't and doesn't subsidize actual DRUGS. Government is more for research and knowledge.
There are TONS of drugs that don't make it to market and even more who are just lab bench ideas. Government doesn't have the leeway or flexibility to deal with all those failures.
Private industry does.
ALSO...the government doesnt attract talent like that. They just don't. Some fields need it, some dont. Personally, I want the best people feeling like they're getting paid the best...so...yeah. Drugs aren't the same as banking or any other host of things.
Its not a perfect system, but to treat all of these issues with a broad brush isn't helping anyone.
People want free shyt but don't understand what goes into making it. This is high stakes shyt too.