Friday, January 28, 2005

Blago learns vital lesson in free market economics- it beats government planning!

Illinois unable to sell flu vaccine bought from Europe:

Illinois has been unable to sell any of the 700,000 doses of flu vaccine that Gov. Rod Blagojevich and other state and city governments agreed to buy from Europe, raising the possibility that taxpayers could get stuck paying millions for the unused vaccine.

To make matters worse, officials in New York City and Cleveland, who signed onto the deal to import the vaccine, now say they don't need their share of the doses and don't want to pay for them.

Illinois put the doses on the market in December after New York City asked the state to resell the 200,000 flu vaccine doses it had agreed to buy for $10 each. Cleveland officials said they told Illinois earlier this month that they no longer wanted the 4,500 doses they had requested at a price of about $11 each.

Both cities got extra flu doses from the federal Centers for Disease Control and Prevention while Blagojevich waited for months to get permission from the U.S. Food and Drug Administration to import the European doses to alleviate a U.S. flu vaccine shortage. Illinois agreed to pay $2.5 million for its share of 256,000 doses."

Remember the flu shot panic? How government needed to step in to avert a crisis? Turns out the free market was right all along. Well, as right as it can be, since the original bottleneck of flu vaccine was caused by Clinton's efforts to have the government step in to help regulate the flu vaccines, since it's so important. See what a great job the government has done? First a shortage, and then a surplus as well! How come none of the items for sale in millions of stores around the country don't have this devastating cycle? Could it be that the free market is the most efficient provider of goods and services after all?

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