So, continuing on the meta track, there are several cases when the private sector fails, which I'll try to categorize: 1. Government intervention screwing up w

So, continuing on the meta track, there are several cases when the private sector fails, which I'll try to categorize: 1. Government intervention screwing up what would work in a purely free market. 2. Markets that free enterprise is not equipped to handle. Massive front-end costs combined with unpredictable or insufficient future revenue (for instance, reducing or eliminating externalities in a way that the company can't capitalize on renders something unworkable for the free market). 3. Markets that have a pathological condition where they are inelastic and when there are less-desirable substitute goods one of which is vastly more profitable. 4. Markets that are monopolies or oligopolies: where there is insufficient competition. Is it even productive to engage in a discussion focusing on category 1, when pharma has issues in all four categories, and reducing government regulation in any way even if it's merely to reduce unnecessary up-front drug development costs (which I agree is a noble goal) is likely to make some of those other pathologies worse? edit to reduce clutter: fair enough.