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> a LEGAL obligation to the shareholders to always take decisions that maximise profit over everything else [..] This is not "evil" - this is just how these com

by brazzy 14y ago

> a LEGAL obligation to the shareholders to always take decisions that maximise profit over everything else [..] This is not "evil" - this is just how these companies work. Yes, it is very much evil. > The only way to combat this is to have a national health care system,that sets their own prices for drugs it buys from companies. No. All it takes is a different patent system that reduces the (artificial, granted by society) monopoly awarded to patent holders. Or, as a more radical change, eliminate monopolies for drugs entirely and fund research publically.

gambiting 14y ago
If you opened your own company you would have to play by the same rules. Even if you wanted to sell your product cheaper, you would not be able to due to obligations to your shareholders,which have a legal binding. Is the system evil? Yes. Are you evil for following the rules? No. And as for the patents - how would you deal with a problem that after spending millions on research somebody could copy you and sell the same product for the 1/100 of the price? I know that the US patent system is broken, but this problem is very real. As for the publicly funded research - this is the best option, but some countries like US oppose this so strongly that I don't think it would work.
- brazzy 14y ago
  > And as for the patents - how would you deal with a problem that after spending millions on research somebody could copy you and sell the same product for the 1/100 of the price? I know that the US patent system is broken, but this problem is very real. note that I said "reduce" the monopoly, not eliminate it. Perhaps a limit on the markup or some sort of mandatory licensing scheme.
- Retric 14y ago
  There is no legal requirement to maximize profits, just avoid doing anything stupid. Aka they can donate 5% of total annual profits to charity but not 50%. Drug companies often donate large quantities of medicine to 3rd world countries because it's vary cheap for them to do so and the management team is not evil.
  - gambiting 14y ago
    There is a legal requirement that you can never take a decision that's bad for the company. If there is an official analysis made that shows that you could make more money by selling your product at 3x the price and people would still buy it, and you ignore such a report, then it's a very good reason to get you kicked out of the management board. And yes, companies donate money/products to charity, but only when they have "spare" money, so money they have no current use for, no ongoing investment plans and so on. And most of the time, giving money to charity is written off as a PR expense, improving the company image by donating to the poor. So yes, there are ways to spend money for noble causes if you want to, but you can't knowingly make a decision that would make the company make less money.
- octix 14y ago
  Yes, american dream, create a wonder drug and make billions...

by brazzy 14y ago

gambiting 14y ago

If you opened your own company you would have to play by the same rules. Even if you wanted to sell your product cheaper, you would not be able to due to obligations to your shareholders,which have a legal binding. Is the system evil? Yes. Are you evil for following the rules? No. And as for the patents - how would you deal with a problem that after spending millions on research somebody could copy you and sell the same product for the 1/100 of the price? I know that the US patent system is broken, but this problem is very real. As for the publicly funded research - this is the best option, but some countries like US oppose this so strongly that I don't think it would work.

brazzy 14y ago
> And as for the patents - how would you deal with a problem that after spending millions on research somebody could copy you and sell the same product for the 1/100 of the price? I know that the US patent system is broken, but this problem is very real. note that I said "reduce" the monopoly, not eliminate it. Perhaps a limit on the markup or some sort of mandatory licensing scheme.
Retric 14y ago
There is no legal requirement to maximize profits, just avoid doing anything stupid. Aka they can donate 5% of total annual profits to charity but not 50%. Drug companies often donate large quantities of medicine to 3rd world countries because it's vary cheap for them to do so and the management team is not evil.
- gambiting 14y ago
  There is a legal requirement that you can never take a decision that's bad for the company. If there is an official analysis made that shows that you could make more money by selling your product at 3x the price and people would still buy it, and you ignore such a report, then it's a very good reason to get you kicked out of the management board. And yes, companies donate money/products to charity, but only when they have "spare" money, so money they have no current use for, no ongoing investment plans and so on. And most of the time, giving money to charity is written off as a PR expense, improving the company image by donating to the poor. So yes, there are ways to spend money for noble causes if you want to, but you can't knowingly make a decision that would make the company make less money.
octix 14y ago
Yes, american dream, create a wonder drug and make billions...