The theory and application of price control is as ancient as humankind’s written history. History documents the detrimental effects of price controls and the subsequent failures of price control throughout all human empires and governments. Author Allen Thomas questions why the Colorado legislature and governor passed and signed SB21-175 which created the Prescription Drug Affordability Board (PDAB). PDAB was created with two specific guard rails. Thomas explains that presently the Colorado legislature is proposing to remove those two guard rails in House Bill 23-1225, which is dangerous not only in principle but also in practice and could have massive negative economic repercussions to all Coloradans.
