Ep. 318
A YouTube transcript from misesmedia discusses the 2021 baby formula shortage in the U.S. and attributes it to government regulations. The video claims FDA regulations, intended to ensure safety, inadvertently created a near-monopoly for companies like Abbott (Similac). It suggests that WIC contracts and tariffs limited competition and foreign imports. The transcript highlights that labeling requirements championed by Abbott failed to prevent contamination. The video concludes that bureaucratic oversight played a role in the crisis, ultimately harming consumers.