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The same reason any industry benefits from being privatized: to incentive innovation. The antibiotics revolution would never have happened, at least not in Ame
by brucephillips 9y ago
The same reason any industry benefits from being privatized: to incentive innovation. The antibiotics revolution would never have happened, at least not in America, had there not been a profit incentive.
The other services you listed are less dependent on innovation.
- mirimir 9y agoOK, I get the dogma. But reality is more complicated. See https://www.pharmaceutical-journal.com/news-and-analysis/features/why-are-there-so-few-antibiotics-in-the-research-and-development-pipeline/11130209.article https://www.pharmaceutical-journal.com/news-and-analysis/fea...
- darkerside 9y agoYou can call it dogma. I think of it as a fundamental principle of human nature. Balancing creativity and efficiency effectively is quite the trick, and capitalism actually pulls it off. People and companies who take risks are the ones that thrive. Those that don't "fade away". It uses survivorship bias to our advantage. Fading away used to mean dying in the streets. Sometimes it still does, but much more rarely. It's a dearly paid price for the innovation that brought us the world as it is today.