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Kenny comments on Blue or Green on Regulation? - Less Wrong
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The fundamental problem of both FDA and such non-regulatory body is that the drug industry got the money to fake the signals. The valid argumentation must be substantially more effective at convincing public than invalid argumentation, for it to work at all.
(I do not think btw that people must be protected from themselves.)
This comment and its parent are both true. And, strangely, we seem to exist in an universe where there are both known useful drugs and a lot of drugs of unclear benefit.