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Pharma love when governments are on the hook for their outlandish prices. It's why there's a revolving door between public and private...to smooth deals like th

Pharma love when governments are on the hook for their outlandish prices. It's why there's a revolving door between public and private...to smooth deals like these.

fshbbdssbbgdd 2y ago
If the government wasn’t allowed to hire from private, it would be starved of talent. That would be a great scheme to hobble any agency you don’t like.
- myprotegeai 2y ago
  It isn't as binary as you're making it. You can hire people who don't have conflicts of interest, or the perception of conflicts of interests.
  - fshbbdssbbgdd 2y ago
    You can cut it more finely but I think you still run into the same issue. The best candidates to run an agency that regulates a particular industry are going to highly overlap with the best candidates to be leaders in that industry, because they have knowledge and experience over how that industry works. Sort of like how many top law students choose between clerking at federal court and joining big law, or do one after the other. And people who become judges often did both. If you ban people who worked in private practice from being a clerk or judge, you would have a lower quality judiciary. Ultimately, I think you end up with the B team trying to regulate the A team.
SturgeonsLaw 2y ago
The prices are less outlandish in single payer healthcare systems as the government's monopsony can force prices down
- myprotegeai 2y ago
  You seem to be under the impression that the government works on your behalf to save you money.
  - SturgeonsLaw 2y ago
    It does. The Pharmaceutical Benefits Scheme here in Australia is a lever that the government pulls to negotiate lower drug prices https://www.pc.gov.au/inquiries/completed/pharmaceutical-prices/report https://www.pc.gov.au/inquiries/completed/pharmaceutical-pri... It also pays an additional $5B p.a. in drug subsidies.
    - myprotegeai 2y ago
      Can you describe the incentive structure that makes sure Australians require less drugs in general? That's the bigger picture. Getting a discount on something you shouldn't need in the first place is not a win.
LarsDu88 2y ago
Honestly, $3 million for a tailor made (needs to be customized for every patient individually) single shot cure that saves a person's life is pretty reasonable. The median lifetime earnings for an American is about $1.7 million though. For a mother, a father, and the patient, it might be worth it.

Pharma love when governments are on the hook for their outlandish prices. It's why there's a revolving door between public and private...to smooth deals like these.

fshbbdssbbgdd 2y ago

If the government wasn’t allowed to hire from private, it would be starved of talent. That would be a great scheme to hobble any agency you don’t like.

myprotegeai 2y ago
It isn't as binary as you're making it. You can hire people who don't have conflicts of interest, or the perception of conflicts of interests.
- fshbbdssbbgdd 2y ago
  You can cut it more finely but I think you still run into the same issue. The best candidates to run an agency that regulates a particular industry are going to highly overlap with the best candidates to be leaders in that industry, because they have knowledge and experience over how that industry works. Sort of like how many top law students choose between clerking at federal court and joining big law, or do one after the other. And people who become judges often did both. If you ban people who worked in private practice from being a clerk or judge, you would have a lower quality judiciary. Ultimately, I think you end up with the B team trying to regulate the A team.

SturgeonsLaw 2y ago

The prices are less outlandish in single payer healthcare systems as the government's monopsony can force prices down

myprotegeai 2y ago
You seem to be under the impression that the government works on your behalf to save you money.
- SturgeonsLaw 2y ago
  It does. The Pharmaceutical Benefits Scheme here in Australia is a lever that the government pulls to negotiate lower drug prices https://www.pc.gov.au/inquiries/completed/pharmaceutical-prices/report https://www.pc.gov.au/inquiries/completed/pharmaceutical-pri... It also pays an additional $5B p.a. in drug subsidies.
  - myprotegeai 2y ago
    Can you describe the incentive structure that makes sure Australians require less drugs in general? That's the bigger picture. Getting a discount on something you shouldn't need in the first place is not a win.

LarsDu88 2y ago

Honestly, $3 million for a tailor made (needs to be customized for every patient individually) single shot cure that saves a person's life is pretty reasonable. The median lifetime earnings for an American is about $1.7 million though. For a mother, a father, and the patient, it might be worth it.