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Regulating quack medicine.

Authors :
Leeson, Peter T.
King, M. Scott
Fegley, Tate J.
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