Consider how the precautionary principle affected the innovative genomics testing company 23andme. Last November, the Food and Drug Administration ordered the company to stop marketing its product. Why? Because 23andme had not sufficiently kissed the regulatory emperors’ ring. Like a jealous frenemy, the FDA was miffed that the company had not sought and obtained permission from the agency since May of that year. Meanwhile, Americans in need of genetic information simply must suffer.
Few public policies inspire as many resoundingly bad arguments in their favor as does minimum-wage legislation. Cato’s Tom Firey looks at one of the worst of these bad arguments. (HT Tim Townsend)