Thomas Phillips | 05-30-26

Thomas Phillips argues that the lengthy FDA drug approval process is a significant barrier to both public health and economic growth. While the government successfully evaluates product safety quickly, the authors contend that the secondary mandate to prove long-term effectiveness creates a "one-size-fits-all" bureaucratic delay that can last a decade. By shortening this timeline and allowing the private sector and individual patients to determine a treatment's utility, the study suggests the United States could unlock up to $48 trillion in economic benefits.