Niall Ferguson, in his book "The Great Degeneration," critiques the excessive bureaucracy that often hinders economic development, comparing it to the challenges of opening a lemonade stand in New York City. He points out that these regulatory obstacles are similar to barriers faced in poorer regions, which can stifle growth and innovation. The stringent standards set by the FDA, intended to prevent tragic drug failures like thalidomide, create a paradox by potentially leading to more premature deaths due to the lack of access to new treatments.

Ferguson emphasizes that while the side-effects of drugs are meticulously measured, the consequences of restricting new drugs from entering the market are often overlooked. This imbalance illustrates a critical flaw in regulatory regimes, where the costs of inaction regarding new drug availability are not adequately considered, possibly resulting in more fatalities than the dangers posed by the drugs themselves. Such rigid approaches ultimately hinder economic progress and public health advancements.