Recent publications by psychologists and/or economists have been discussing amazing neurological evidence to support what's called the price-placebo effect: that we actually derive more REAL efficacy from things we pay more for. More pleasure from higher-priced wine, more boost from higher-priced energy drinks, etc. And it's been raised recently in the sordid context of the Spitzer scandal.
But I started thinking: in light of this, I wonder whether it's really in our national interest to work hard to lower the cost of prescription drugs and medical care? Perhaps the high price of drugs and medical care in America is directly linked to their efficacy?