3 ms·
This is good example of the limits of capitalism.
by UncleOxidant 3y ago
This is good example of the limits of capitalism.
- rjtavares 3y agoThe whole concept of patents already is a solution to one of the limits of capitalism (they're basically government enforced monopolies). There are interesting ideas on how to improve the system, hopefully we won't throw the baby with the bath water here.
- fasterik 3y agoI think capitalism has plenty of solutions for this. We can allocate government funding for research, pass new laws that create tax incentives, create prize funds to incentivize development of specific drugs, or make advanced market commitments where institutions commit to buying a portion of a certain type of drug after it's produced. The underlying problem is the lack of political will and cooperation to implement these solutions.
- UncleOxidant 3y ago> I think capitalism has plenty of solutions for this. We can allocate government funding for research ... Market-driven capitalism without any government incentives (or disincentives) has no answer here. You just proposed something that's not market-driven capitalism. That the government should get involved in some way to fund and incentivize what it deems to be good for society in the long run. The market on it's own can't do this.
- fasterik 3y agoIt's a straw man to define capitalism in such a way that anything involving a government doesn't count as capitalism. Unless they're radical anarcho-capitalists, most people would agree that you need some sort of stable society with laws and regulations for markets to function correctly.
- heyoni 3y agoNothing about your particular solution suggests it should be labeled capitalist, in fact, it would fit well under a number of radically different economic ideologies.
- fasterik 3y agoIf it involves private ownership, profit, and pricing through competitive markets, then it's capitalist. Everything I mentioned is already done under the current capitalist system. A few examples of non-capitalist solutions would be nationalization of drug production, enforced worker's collectives, and price controls. I don't think these are good alternatives, given their historical track record.
- hatenberg 3y agoso basically Libertarians.
- infamouscow 3y agoCan you give any examples of antibiotic discoveries of this caliber happening recently in any economic system besides capitalism? When making brain-dead claims, at least be fair and compare it to the track record of other economic systems. To do otherwise is shameful.
- UncleOxidant 3y agoIt may not be recent, but I can give the example of Alexander Fleming, discoverer of penicillin. He did not patent his discovery saying that "nature invented penicillin, I merely discovered it." He wanted it to be as widely available and affordable to everyone who needed it. (Similar for Jonas Salk and the polio vaccine). Fleming discovered penicillin in a government funded academic environment and was not incentivized by money. Maybe that was just more common back during that era (also given the Salk example). Maybe we're at a later stage of capitalism where it's less likely to happen.
- infamouscow 3y agoAlexander Fleming and Jonas Salk are akin Atticus Finch, but in real life.