Swift
Seriously. The next thing they are going to say is that studies show cocaine is bad for you. Man, is there even a point to what these guys do?
Sortof. They provide people with a sense of security. Consider two possible scenarios.
1) Drug companies are not regulated by the FDA and sometimes come out with drugs that kill a few people.
2) The FDA prevents every drug that could possibly have serious effects from reaching the market, as well as a few that don't.
Now scenario 2 may kill more people than scenario 1. But that doesn't matter to voters. Voters like to feel like they're in control, and they don't feel like they're in control if they don't have some sort of regulation on drug companies. Sure, that might result in billions of wasted dollars as the FDA checks out every product and pays researchers to look into the effectiveness of condoms... something that private companies would pay for simply for the advertising. But that doesn't matter to Joe voter. Joe voter likes to feel like he's in control, who cares if the result is worse?
Same thing goes with other aspects of the market. In Hawaii the government regulated gas prices because Joe voter got upset that the prices were too high. The result? Stations ran out of gas. People started speculating on how the government would set the price next week and would stock up as much as possible or run to as near empty as possible to wait for the price ceiling to come down.
Cars would run out of gas on the road. Stations would run out of gas as well. I'm sure some stations packed up and closed as a result of the regulations.
Did any of this happen before regulation? No. Stations stayed open and always had gas. Very few people ran out of gas on the road and little stockpiling occured.
But Joe voter feels in control. That's the important part.