Overdose: How Excessive Government Regulation Stifles Pharmaceutical Innovation

In Overdose, Richard A. Epstein argues that the FDA's stringent approval processes stifle drug innovation by prioritizing avoidance of Type 1 errors over patient benefits, using examples like the Vioxx litigation to illustrate regulatory overreach.

He advocates for freer market entry of drugs, relying on downstream decisions by physicians and patients rather than upstream FDA bans, while critiquing randomized controlled trials and calling for reduced government intervention in pharmaceutical development.