A Huge Overnight Increase in a Drug’s Price Raises Protests

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EmperorNapoleon said:
No, Capitalism advocates an environment in which corporations regulate themselves free of government intervention. The problem is the lack of regulation in this case and that can be remedied through Socialism.
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Capitalism is already at work on this problem. The news story has given a clear signal to producers of generics that they should start selling this drug in the US market. The only problem is the FDA can be unreasonably difficult, which is how they protect big drug companies.

The price increase will be no more than a blip in the long run, assuming the FDA bows to public pressure and allows competition (capitalism)

Only in your strawman fantasy does the govt not fill some regulatory role under capitalism. It’s disturbing that you identify a market with zero competition and call that capitalism. Your schooling was severely lacking.
 
I do not see much point in the “isms” right now.
The case is this drug is needed for toxoplasmosis for instance and it can be serious for moms and babies.
Life goes above everything else and this is a concrete situation for a lot of persons.
 
Theo520 said:
Capitalism is already at work on this problem. The news story has given a clear signal to producers of generics that they should start selling this drug in the US market. The only problem is the FDA can be unreasonably difficult, which is how they protect big drug companies.

The price increase will be no more than a blip in the long run, assuming the FDA bows to public pressure and allows competition (capitalism)

Only in your strawman fantasy does the govt not fill some regulatory role under capitalism. It’s disturbing that you identify a market with zero competition and call that capitalism. Your schooling was severely lacking.
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I would argue that Capitalism will provide the best discipline for this company. If I understand the article correctly, the drug is a little known drug in the public domain. Now that they have drawn attention to themselves, we will probably see other manufacturers soon.
 
stinkcat_14 said:
I would argue that Capitalism will provide the best discipline for this company. If I understand the article correctly, the drug is a little known drug in the public domain. Now that they have drawn attention to themselves, we will probably see other manufacturers soon.
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From a business perspective, it was a very stupid move. I did a quick google and over 40 Indian companies make the generic ingredient of this drug. The only hitch here is how long it will take the FDA to approve competitors for US sales.
 
stinkcat_14 said:
I would argue that Capitalism will provide the best discipline for this company. If I understand the article correctly, the drug is a little known drug in the public domain. Now that they have drawn attention to themselves, we will probably see other manufacturers soon.
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Hope you are right.
Poor those who need it today.,.
 
EmperorNapoleon said:
You speak as though making live-saving medicines available to all is a bad thing, but your “fascist” boogeyman doesn’t scare me. I’m more concerned about corporate greed costing lives than the seizure of a piece of paper.
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Perhaps not. But tyranny scares me. There’s lots of other ways to convince the guy. For example, if he’s relying on patent protection offered by the government, that can be removed

Stealing someone’s property at the point of government guns isn’t how liberty works.

Jon
 
stinkcat_14 said:
I would argue that Capitalism will provide the best discipline for this company. If I understand the article correctly, the drug is a little known drug in the public domain. Now that they have drawn attention to themselves, we will probably see other manufacturers soon.
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Yep

Jon
 
JonNC said:
Perhaps not. But tyranny scares me. There’s lots of other ways to convince the guy. For example, if he’s relying on patent protection offered by the government, that can be removed

Stealing someone’s property at the point of government guns isn’t how liberty works.

Jon
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Liberty does me no good if I’m dead because I couldn’t remit extortion money to the pharmaceutical industry. The government has an obligation to the general welfare of the people and that includes their health. It doesn’t need a gun to seize or void patents.
 
EmperorNapoleon said:
I’m more concerned about corporate greed costing lives than the seizure of a piece of paper.
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It’s all clear now, what you really hate is GREED, not capitalism.
Greed is deemed a Cardinal Sin, it is fundamentally part of the human condition and is pervasive across all of human history.

You won’t solve greed and it’s negative consequences by outlawing capitalism. In fact, I’d argue that socialism’s failure in practice stems largely from ignoring the human role of such cardinal sins.
 
EmperorNapoleon said:
Liberty does me no good if I’m dead because I couldn’t remit extortion money to the pharmaceutical industry. The government has an obligation to the general welfare of the people and that includes their health. It doesn’t need a gun to seize or void patents.
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To put someone in jail might while seizing their property might.

Non
 
Theo520 said:
It’s all clear now, what you really hate is GREED, not capitalism.
Greed is deemed a Cardinal Sin, it is fundamentally part of the human condition and is pervasive across all of human history.

You won’t solve greed and it’s negative consequences by outlawing capitalism. In fact, I’d argue that socialism’s failure in practice stems largely from ignoring the human role of such cardinal sins.
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Greed is the fuel of Capitalism. Compassion is the fuel of Socialism. Greed will never be completely eradicated, but the damage it does can be mitigated by ending Capitalism.
 
EmperorNapoleon said:
Greed is the fuel of Capitalism. Compassion is the fuel of Socialism. Greed will never be completely eradicated, but the damage it does can be mitigated by ending Capitalism.
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Compassion is the fuel of socialism. Tell that to the central and Eastern European slave states under the USSR, or the bones of Pol Pot, or the victims in WW II Germany. Socialism always requires tyranny. Your own words, put him in jail, is proof.

Jon
 
JonNC said:
Compassion is the fuel of socialism. Tell that to the central and Eastern European slave states under the USSR, or the bones of Pol Pot, or the victims in WW II Germany. Socialism always requires tyranny. Your own words, put him in jail, is proof.

Jon
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If I were to grab someone’s medication, demand they pay me $750 per pill if they want it back, and they die as a result then I would go to jail. Why shouldn’t he? Because he’s doing it in the name of corporation and profit? What of the victims of Capitalism? The slaves of American corporations overseas? Mass murder in the name of profit?
 
EmperorNapoleon said:
If I were to grab someone’s medication, demand they pay me $750 per pill if they want it back, and they die as a result then I would go to jail. Why shouldn’t he? Because he’s doing it in the name of corporation and profit? What of the victims of Capitalism? The slaves of American corporations overseas?
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Exactly. You would go to jail for taking what was not yours. That’s the difference. Ownership.

Jon
 
JonNC said:
Exactly. You would go to jail for taking what was not yours. That’s the difference. Ownership.

Jon
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No, the difference is that I don’t have a company with the resources to bribe the government not to press criminal charges. GM, for example, just payed $900 million to avoid criminal charges for the injuries and deaths resulting from the ignition switch defect. The big banks and investment firms have made similar arrangements to avoid prosecution of their executives since the financial crisis. Big pharma does it too.
 
EmperorNapoleon said:
Greed is the fuel of Capitalism. Compassion is the fuel of Socialism. Greed will never be completely eradicated, but the damage it does can be mitigated by ending Capitalism.
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My you are confused, let me try again.

Greed is one of the seven Capital Vices that articulate humanities basic sins: (wrath, greed, sloth, pride, lust, envy, and gluttony). They describe human nature, not an economic system.

Capitalism recognizes these vices exist and uses them for the greater good. You contain excess profits by ensuring competition for the customer.

Socialism ignores these vices, pretending they will not interfere with execution of the idealized master plan of how people and organizations should operate. Socialism is in direct conflict with human nature, hence it fails.

Capitalism requires some level of Govt to establish and enforce standards and regulations.
A capitalist system also requires Religion to guide people in their spiritual growth, to help them recognize that the Capital Vices are in fact sins, not unadulterated virtues. Religion provides heart and governance.
 
Thorolfr said:
If the FDA would allow the drug to be imported from other countries such as Canada that regulate the price of drugs, that would dramatically lower the price.
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Oh I see. So Canada’s Socialism saves the day?
 
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