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Regulating quack medicine.
- Source :
- Public Choice; Mar2020, Vol. 182 Issue 3/4, p273-286, 14p
- Publication Year :
- 2020
-
Abstract
- Quack medicines were prepackaged, commercially marketed medicinal concoctions brewed from "secret recipes" that often contained powerful drugs. Governmental regulation of them in late nineteenth-century England is heralded as a landmark of public health policy. We argue that it's instead a landmark of medicinal rent-seeking. We develop a theory of quack medicine regulation in Victorian England according to which health professionals faced growing competition from close substitutes: quack medicine vendors. To protect their rents, health professionals organized, lobbied, and won laws granting them a monopoly over the sale of "poisonous" medicaments, most notably, quack medicines. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00485829
- Volume :
- 182
- Issue :
- 3/4
- Database :
- Complementary Index
- Journal :
- Public Choice
- Publication Type :
- Academic Journal
- Accession number :
- 141452440
- Full Text :
- https://doi.org/10.1007/s11127-019-00656-w