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We tried that in Europe and it was really the worst thing that can happen. Public funding is a good idea, public ownership is a really bad one. Even the German
by emteycz 5y ago
We tried that in Europe and it was really the worst thing that can happen. Public funding is a good idea, public ownership is a really bad one. Even the German healthcare system is a combined system of public funding of privately owned healthcare providers.
The biggest problem of pharma is IMHO lack of competition. The field is over regulated - some of it is for good reasons, but perhaps it went too far.
- folli 5y agoCan you elaborate on where and how that was tried? Seems very interesting.
- emteycz 5y agoAll of Eastern Europe pre-1989, and most of the same countries for few years post-1989, until they realized this is going nowhere and privatized.
- verinus 5y agonot only eastern europe. here in Austria we had several companies that were state owned. Problem was, that then there is politics coming into play and hiring is not about business facts but politics. This resulted in highly inefficient companies as the objectives did not align any more...
- emteycz 5y agoExactly. Also, firing established people who stop contributing is impossible (they'll plead "it's political"), and hiring new people for good wages is impossible too because "that's not according to our tables of wages" (both of these problems are not theoretical, every state company here today has them).