Would ObamaCare Kill Medical Innovation?

As health care reform inches closer to reality, a massively important question becomes even more pressing: Will ObamaCare kill the sorts of medical innovation that makes the United States the leader in bringing new treatments, technology, and procedures to market?

"America is the only industrialized nation that doesn't have a national health plan," says Rep. Charlie Rangel (D-N.Y.), former Gov. Howard Dean (D-Vt.), and countless others who want the United States government to guarantee health coverage to all.

Protesters at a recent rally in downtown Los Angeles demanded universal coverage. They told Reason.tv that America is a cruel land where profits come before people.

"It's disgusting!" said one woman. "There should be no profits in health care!" What about those who argue that profits drive medical innovation? "I think that's kind of sick," declared another protester, who wants the U.S. to be more like Canada, where government policy keeps drug prices, and drug company profits, lower than in America.

Many regard the profit motive as cruel, but it actually produces compassionate results. After all, America has generated vastly more medical innovations than other nations. Included in the long list is the innovation that saved the life of Dave Christensen, construction supervisor, husband, and father. After being diagnosed with cancer, Christensen was lucky enough to be given a then-experimental drug that probably wouldn't have been developed or brought to market in any other country in the world.

If America follows the lead of the rest of the world and clamps down on profits in health care, who will make tomorrow's wonder drugs?

"Drug companies that take big risks may make big profits," says Reason.tv's Nick Gillespie, who hosts the video. "But I say, Good for them. If they're saving lives, I hope they make a killing."

"Would ObamaCare Kill Medical Innovation?" runs about seven minutes. Producer-Writer: Ted Balaker; Producer: Hawk Jensen; Director of Photography: Alex Manning; Associate Producer: Paul Detrick.

For downloadable versions of this and other videos, go to http://reason.tv

Special thanks to the Independence Institute for arranging and underwriting travel to Canada. Visit them at http://www.i2i.org/

Category:

News & Politics

Tags:

• reason.tv
• reason magazine
• health care
• health care reform
• rituxan
• barack obama
• charlie rangel
• howard dean
• medicine
• single-payer system
• drug companies
• nick gillespie

[JessicaBelle81]

Isn't Capitalism a system of voluntary mutual exchange where BOTH parties profit?

[Stickmodee]

@stringlov The top 1% of wage earners in the US pay 40% of all income taxes. The top 50% pay 97% of all income taxes. Get a job, dumbass.

[Stickmodee]

It already is. It has harmed my business. I sell medical equipment. A lot of hospitals and nursing homes are reluctant to spend, because they see the socialist clusterfuck that is coming. This marxist clown needs to go. A sworn enemy to America wouldn't do anything different to our economy than this mumbling fool in DC that can't speak to 6 year olds without a teleprompter, is doing.

[felpaluche]

I hope not.

[mecher3k]

This video does one thing: Shows why profit SHOULDN'T be a motivating force when it comes to health care or even science period.

[beancube2010]

When innovation laws are a monopoly languages and rituals, there is only manipulation, no economy, no resource development, and no humanity and no real understanding among population.

[beancube2010]

@JessicaBelle81 No! When you can't predict what you'll receive that is no mutual exchange, it is a rip off.

[Brzuszek12]

@JessicaBelle81 the simple answer to that is no, and I'v never came across someone who claimed it was. The capitalist system is built on competition where some lose and others win but through the competition the winners progress, However capitalism reaches a point when companies are 'too big to fail' at this point there is no longer any competition only olygarchs. People like everything else are expendable, only capital matters. Greed is good! Or so they say

[stringlov]

It's Time to TAX the RICH make USA no.1