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Is the FDA good or bad?
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Let say, hypothetically, a regulatory agency like the FDA, lets 50% of bad thing get approved.
Well what happens without the FDA?
100% of the bad things will be legal to sell.
So do you still want an FDA even if they are corrupt and let 50% of bad things go through?
And the FDA lets way less than 50% of bad things go through (I don't have an exact number tho).