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Much easier for consumers to control food spending than drug spending. Lots of cheap food to choose from. Many chronic illnesses require medications for which t
by jwbwater 7y ago
Much easier for consumers to control food spending than drug spending. Lots of cheap food to choose from. Many chronic illnesses require medications for which there is no good substitute. Too much regulation is not responsible for high drug prices, deregulation is. Companies are allowed to buy their competitors and then raise prices.
- bhupy 7y agoOkay then what’s stopping someone from starting another company and selling the same product at a lower price?
- mvid 7y agoEntry costs, regulatory capture, intellectual property?
- bhupy 7y ago> Too much regulation is not responsible for high drug prices, deregulation is > regulatory capture, intellectual property Ostensibly would seem that relaxing regulation and (more importantly) abolishing or heavily weakening medical patents would help drive down costs. Can you imagine if tech companies could patent their products the same way medical companies do today? Uber would no longer have to worry about finding a moat, their moat would simply be their patent on "digital ride sharing provided by dynamic pricing to predict demand and position supply" (or some similar conceit). Smartphones would all be expensive and Apple would have a monopoly on multi-touch phones with capacitive displays and built-in app-stores. If food companies could patent food the same way drug companies can patent drugs that they prepare, bread would be expensive and you wouldn't have store brands and generics to keep the price of the fancy Whole Foods bread in check.