How the FTC Could Damage the Future of Cancer Research

The Federal Trade Commission, created more than a century ago to protect consumers, is doing more harm than good and should be abolished.

The latest example: The FTC is doing everything it can to block a merger that, if allowed, would accelerate the availability of a new type of test that can detect 50 different types of cancer with a high degree of accuracy before symptoms appear. . The FTC is employing flimsy fundamentals that you should know will not stand up to judicial scrutiny. But the delay could help potential competitors, who apparently have the agency’s ear.

The FTC is known for its pushy behavior, acting as a prosecutor, judge and jury in the actions it brings. The Supreme Court recently ruled 9-0 against the agency’s propensity to impose fines on targets without bothering to follow legal procedures.

The FTC’s activities, particularly those related to antitrust competition, could be transferred to the Department of Justice.

In the meantime, Congress and the White House should pressure the FTC to immediately cease its pernicious acts regarding that cancer testing merger.

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Steve Forbes is President and Editor-in-Chief of Forbes Media. Steve’s most recent project is the “What’s Ahead” podcast, involving the world’s leading newsmakers,

Steve Forbes is President and Editor-in-Chief of Forbes Media. Steve’s most recent project is the “What’s Ahead” podcast, where he engages leading newsmakers, politicians, and business and economics pioneers in honest conversations aimed at challenging traditional conventions as well as presenting distinctive views of Steve on the intersection of society, economics, and politics. . Steve helped create the recently released and highly acclaimed public television documentary, In the money we trust?, which was produced under the auspices of Maryland Public Television. The film was inspired by the book he co-authored, Money: How the destruction of the dollar threatens the world economy and what we can do about it.

Steve’s latest book is Reviving America: How Repealing Obamacare, Replacing the Tax Code, and Reforming the Fed Will Restore Hope and Prosperity co-author of Elizabeth Ames (McGraw-Hill Professional). Steve writes editorials for each issue of Forbes under the heading “Fact and Comment.” A widely respected economic forecaster, he is the only writer to have won the prestigious Crystal Owl Award four times. The award was previously presented by US Steel Corporation to the financial journalist whose economic forecasts for the coming year turned out to be the most accurate. In both 1996 and 2000, Steve campaigned vigorously for the Republican nomination for president. Key to their platform was a flat tax, medical savings accounts, a new social security system for working Americans, parents’ choice of schools for their children, term limits, and strong national advocacy. . Steve continues to vigorously promote this agenda.

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