>You keep using the words 'fair' and 'reasonable'. I don't think they mean what you think they mean. For example, in real estate 'fair market price' is defined as the price a willing buyer will give a willing seller and yes, it does fluctuate with market conditions.
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>To keep with your example. Someone comes up with a cure for cancer (or AIDS or the common cold even) and says "I think fair market price on this is 10,000$ a dose." How many people will be shut out of that cure? Most, I'm thinking, because they can't pay for it and insurance sure isn't going to cover it.
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I didn't start using the word 'fair'; it was Obama and his liberal friends <g>. They keep harping on everything has to be 'fair.' And 'fair marking price' for houses, I agree with you, has a completely different meaning.

As to your second paragraph. I believe in capitalism (I have already lived in socialism and don't like it at all <g>). Whoever will find cure for cancer, AIDS, or Alzheimer's will know that if they set the price for their medication at $10,000, nobody will be able to afford to buy it. So they will have to lower the price until it is affordable and profitable.
Supply and demand will take care of the price.
The only place, I believe that the government has role, is to make sure that the medication meets requirements of FDA.