3 ms·

I'm not convinced drug research is expensive. I've met grad students. I've seen how much they do and how much they get paid. That leaves the regulatory process

by geofft 8y ago

I'm not convinced drug research is expensive. I've met grad students. I've seen how much they do and how much they get paid. That leaves the regulatory process, and if the problem is government intervention in the free market with overtones of regulatory capture (drug regulation being too excessive), the solution is certainly not more government intervention in the free market with overtones of regulatory capture (patents).

aaronbrethorst 8y ago
That leaves the regulatory process Well, that and rampant price gouging. the solution is certainly not more government intervention in the free market You should really listen to the podcast I linked to above.
- geofft 8y ago
  Not sure I understand - are you agreeing or disagreeing with me? The podcast describes how a well-intended government intervention in the free market and how it led to rampant price gouging. I would be more than thrilled if we got rid of the free market entirely. But that seems unrealistic, and if we're going to have it, the government needs to be very much on guard against saying "We can fix these market inefficiencies by letting these people make more profit." I maintain that if the government had instead caused pharmaceutical companies to make less profit from their regular drugs, orphan drugs wouldn't have looked so unappealing in comparison.
  - drieddust 8y ago
    > I would be more than thrilled if we got rid of the free market entirely. It is a market controlled by various lobbies focused on increased the shareholder value. How is it a free Market? In a free market, there shouldn't be monopolies. Goverments first sitting idle and allowing the companies to grow like cancer and then rushing in to save them when they crash in the name of saving the economy is anything but free market.
    - geofft 8y ago
      Fine, I'll rephrase that as "I would be more than thrilled if we got rid of the allegedly-free market entirely." Let's admit that truly free markets are an unstable equilibrium and that government regulation can actually do some good, and let's stop being afraid of government-run markets.

by geofft 8y ago

aaronbrethorst 8y ago

That leaves the regulatory process Well, that and rampant price gouging. the solution is certainly not more government intervention in the free market You should really listen to the podcast I linked to above.

geofft 8y ago
Not sure I understand - are you agreeing or disagreeing with me? The podcast describes how a well-intended government intervention in the free market and how it led to rampant price gouging. I would be more than thrilled if we got rid of the free market entirely. But that seems unrealistic, and if we're going to have it, the government needs to be very much on guard against saying "We can fix these market inefficiencies by letting these people make more profit." I maintain that if the government had instead caused pharmaceutical companies to make less profit from their regular drugs, orphan drugs wouldn't have looked so unappealing in comparison.
- drieddust 8y ago
  > I would be more than thrilled if we got rid of the free market entirely. It is a market controlled by various lobbies focused on increased the shareholder value. How is it a free Market? In a free market, there shouldn't be monopolies. Goverments first sitting idle and allowing the companies to grow like cancer and then rushing in to save them when they crash in the name of saving the economy is anything but free market.
  - geofft 8y ago
    Fine, I'll rephrase that as "I would be more than thrilled if we got rid of the allegedly-free market entirely." Let's admit that truly free markets are an unstable equilibrium and that government regulation can actually do some good, and let's stop being afraid of government-run markets.