This is the heart of it. People like to paint this as a regulatory problem--the FDA keeping all these potentially useful drugs off the market due to its bureaucracy. But he fact is that 85-90% of drugs that hit early Stage I clinical testing don&#x27;t make it through approval. That means the science is bad at predicting what will work and what won&#x27;t work, and spectacularly so. That&#x27;s a science problem, not a regulatory.<p>People bring up the &quot;more harm than good&quot; issue, but they&#x27;re only thinking of one kind of harm: drugs that actually hurt people. But having ineffective drugs on the market also has a cost, and it&#x27;s probably the bigger one. The market for effective drugs is almost certainly not efficient given the difficulty of ascertaining efficacy and the information asymmetries involved. Thus, there is a real risk of people dying because the inefficient market selects for drugs with good marketing over ones that work.