The Competitive Enterprise Institute Daily Update

Issues in the News

1. HEALTH

The FDA approves a new sunscreen, long available in Europe and Canada, that will help fight skin cancer.

CEI Expert Available to Comment: A national survey of oncologists commissioned by General Counsel Sam Kazman found that over 60 percent believe the Food and Drug Administration is too slow in approving new drugs and therapies:

“Almost two-thirds (61%) of the cancer specialists polled believe the FDA is too slow in approving new medical drugs and devices, and almost eight out of ten (77%) responded that the FDA’s approval process has hurt their ability to treat their patients with the best possible care at least once in their medical careers.”

2. BUSINESS

U.S. gas prices hit an all-time high of over $3 a gallon.

CEI Expert Available to Comment: Journalism Fellow Tim Carney, author of the new book, The Big Ripoff: How Big Business and Big Government Steal Your Money, on why we can thank the fuel additive ethanol for increasing prices:

“Federal ethanol mandates require us to use a costly fuel that is facing a shortage, but the mandates also enrich Archer Daniels Midland, a giant corporation controlling 25% of U.S. ethanol and richly funds Washington politicians.”

3. TECHNOLOGY

New York state loses personnel records for over half a million injured state workers, potentially exposing them to identity theft.

CEI Expert Available to Comment: Director of Technology Studies Wayne Crews and Policy Analyst Brooke Oberwetter on how private industry can protect data better than government mandates. 

“Government solutions tend to disincentivize honesty and cooperation among industry players in the long term, leading to even greater problems of imperfect information.  Intervention can also interfere with prices, meaning a less efficient allocation of resources.  In addition to economic inefficiency, regulations can define industry standards down and reduce innovations in the field of cybersecurity, leading to lower levels of security than we have now.” 

Blog feature: For more news and analysis, updated throughout the day, visit CEI Open Market.

FOR MORE INFORMATION

To contact a CEI expert for comment or interviews, please call the CEI communications department at 202-331-2273 or email to [email protected].