4 ms·
The best part of economic freedom is that one is free to start a manufacturer delivering a cheaper whatever one is complaining is too expensive!
by ovi256 6y ago
The best part of economic freedom is that one is free to start a manufacturer delivering a cheaper whatever one is complaining is too expensive!
- anchpop 6y agoIt's possible the price is too high, but the reason it has that price $35/bottle is the minimum required to sustainably produce it. It's well accepted in economics that price of manufacture is not necessarily the societally optimal price [0]. If this is the case, what needs to be done is government subsidization, and no individual person can just start a company and do it themselves. Also, the idea that everyone is free to start manufacturing insulin ignores the billions of dollars of capital that is required to create a FDA-compliant insulin production plant, which almost no one on earth has access to. [0]: https://www.investopedia.com/terms/e/externality.asp https://www.investopedia.com/terms/e/externality.asp
- arexxbifs 6y ago"Not only are the big three insulin manufacturers financially opposed to biosimilars entering the market, they’ve actively taken legal steps to prevent it." https://beyondtype1.org/how-much-does-it-cost-to-produce-insulin/ https://beyondtype1.org/how-much-does-it-cost-to-produce-ins...
- HeadsUpHigh 6y agoNot with the way the FDA has a pile of rules and regulations that combined have the unintended effect of blocking the market. Drugs of all kinds are not in a market state of economic freedom. There are pros and cons of the situation, but at least please stop pretending that it's a free market.