Regulation can be painful

Source: EconLog
by Scott Sumner

“In 2010, there was an growing problem of people abusing painkillers such as OxyContin. Unfortunately, the steps taken to address the crisis may have made things even worse. A 2018 NBER study by William N. Evans, Ethan Lieber, and Patrick Power showed that when the pills were reformulated to reduce drug abuse, people switched to other drugs such as heroin, which were even more dangerous …. In addition, the government has begun pressuring doctors not to prescribe opioid painkillers. … fentanyl deaths are now far higher than before the government began cracking down on painkiller use.” (06/02/21)