"The Senate recently passed legislation that would restrict institutional investment in single-family rental housing. The goal is to improve affordability, but economists project that this policy would reduce new construction by tens of thousands of homes annually - raising rents and limiting options for the working families it aims to help."
"Europe and Japan once led the world in pharmaceutical innovation. That's not the reality today, in large part because price controls reduced the incentive to invest in new treatments. There's no reason to believe that adopting similar policies in the United States would produce a different outcome."
"Today, universities can license their discoveries to private companies, which then invest in further R&D to bring those innovations to market. That wasn't always the case. Before the Bayh-Dole Act, universities faced significant barriers in commercializing federally funded research breakthroughs."
Policymakers are increasingly opting for centralized solutions that replace market forces with government intervention, risking American prosperity. In housing, recent legislation aims to improve affordability but may reduce new construction, raising rents. Similarly, proposals to import foreign price controls on prescription drugs could significantly cut research investment, delaying new treatments. Additionally, seizing pharmaceutical patents from universities could hinder innovation by disrupting the current model of private investment in research and development, ultimately affecting the availability of new medicines for patients.
Read at Fortune
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