3 ms·
Public utilities which have monopolies set prices according to a regulated process: https://en.wikipedia.org/wiki/Utility_ratemaking https://en.wikipedia.org/wi
by logn 11y ago
Public utilities which have monopolies set prices according to a regulated process: https://en.wikipedia.org/wiki/Utility_ratemaking https://en.wikipedia.org/wiki/Utility_ratemaking
Given the patents and difficult FDA approval processes, it might make sense to regulate drug prices similarly to public utilities.
I'm all for free markets. But when there's zero competition, you can't still treat things like a free market.
- zurn 11y agoNit: Patents are state-backed monopoly rights, patent supporters argue that free market would result in too much competition.
- throwawaykf05 11y agoI've never heard any patent supporters say anything about "too much" competition. What they say is that anytime a competitor can freeride on your investment of resources, it is not fair competition.