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Research also isn’t priced at just its face value - there’s the opportunity cost of very smart and hard working people making it happen at overwhelming risk of
by throwawaysea 6y ago
Research also isn’t priced at just its face value - there’s the opportunity cost of very smart and hard working people making it happen at overwhelming risk of failing.
I think the main bloat is likely regulatory capture - we could start with the question “why can’t I make this drug in my garage” and work through each barrier. Equipment is part of it but the time and expense of navigating extensive regulations, building relationships with bureaucratic agencies, needing legal support, and so on prevents competition. Even if it isn’t as hard as it may seem to deal with all that, the reputation of it being an insurmountable barrier is enough to discourage would-be innovators.
- hellisothers 6y agoThing is I don’t want life saving medicine from some guy who just started producing it in his garage last month. Fortunately I can afford the “regulated” dose myself if I had to. Most people can’t though and this is a role of govt, making sure everybody has access to a lifesaving drug _that the govt funded_. The solution isn’t “let poor people use bootleg garage drugs”, it’s the ensure lifesaving medication is priced affordably. This is one of those situations where capitalism by itself isn’t well configured to deal with. This and, say, emergency room visits...
- Red_Leaves_Flyy 6y agoSince we can't figure out how to treat diseases in poor patients as they start we all pay a whole Hell of a lot more when they land in the er.