President Donald Trump
Jonathan Ernst | Reuters
The Trump administration lost two key battles in the span of 48 hours in its fight to get prescription drug prices down. But it can still win the war by getting back to its free market roots.
Then on Thursday morning, the administration backed down from it push to eliminate prescription drug rebates after concerns grew that killing the rebates would adversely affect senior citizens.
The reasoning behind both policies was to improve price transparency, force companies into lowering prices and to increase competition in the sector.
But there was a fatal flaw in both of those policies; they were all stick and no carrot, even though the Trump administration’s more natural posture is to use liberating incentives instead of coercive regulations.
President Trump has often flouted conservative ideology by…