As a general rule, cost-benefit analyses are suspect.
Such analyses – which federal agencies perform to weigh the health and safety “benefits” of regulations (benefits like lower infant mortality rates and reliably safe and clean drinking water) against the “cost” of lost profits to Corporate America – result in a distorted model of a regulation’s impact. Invariably, the distortion creates a bias that exaggerates the regulation’s “cost,” largely because cost (measured in dollars and cents) is more easily quantified than benefits.
So one might think it’s a good thing that economists at the FDA have started factoring in pleasure – or, more specifically, its loss – when weighing the costs and benefits of new regulations. And one might think that a regulation that is expected to result in lower infant mortality rates, fewer cancer diagnoses, and longer, healthier lives for the American public to be a winner in terms of “pleasure,” right?
Unfortunately, one would be wrong.
Shockingly, the FDA’s cost-benefit analysis for a new tobacco regulation resulted in the rule’s projected health and safety benefits – fewer instances of heart and lung disease and fewer early deaths – being reduced by 70 percent due to the “loss in pleasure” smokers endure when trying to break their addiction.
As an ex-smoker myself (tobacco-free since 2008), I am well aware that the symptoms of nicotine withdrawal certainly constitute a “loss in pleasure.” But the notion that a smoker’s physical discomfort for a relatively brief period of time somehow trumps by 70 percent the health benefits of quitting (not to mention the increase in one’s disposable income and the gradual restoration of one’s senses of taste and smell) is utterly outrageous.
Yesterday marked the 49th Anniversary of Medicare, our nation’s first national health insurance program. Since its inception, Medicare has extended health coverage to nearly 50 million seniors and people with disabilities.
To celebrate, U.S. Rep. John Conyers (D-Mich.) spoke passionately on the U.S. House floor, commemorating the anniversary of the beloved program and highlighting the benefits of extending Medicare to all Americans.
Rep. Conyers emphasized the huge cost savings (close to $600 billion in 2015) that would be achieved by expanding Medicare and curbing the wasteful spending inherent in the current for-profit, private insurance system used by those not eligible for Medicare or other government-financed programs
In presenting the case for the passage of H.R. 676, Rep. Conyers emphasized that a nationwide single-payer system built off Medicare is the best way to address the core challenges undermining our health care system.
Antibiotic Resistance Coalition – photo courtesy of ReAct
Last Thursday, Public Citizen joined partners in the Antibiotic Resistance Coalition in releasing a declaration on the dire threats posed by antibiotic resistance and urgent steps that must be taken to avert its dangers.
Additionally, the coalition called on World Health Organization member states to pass a critical resolution calling for measures to combat antimicrobial resistance, including antibiotic resistance, at the 67th World Health Assembly.
The implications of the growing trend of antibiotic resistance are frightening, to say the least. Human beings rely on antibiotics for treatment of the most basic bacterial infections. Without effective antibiotics, most surgery, organ transplantation and chemotherapy would be impossible. The growing trend of antibiotic resistance is making that possibility all too real.