Martin Shkreli pleads the Fifth, then tweets about 'imbeciles' in Congress

[Vas Deferens]

(02-05-2016, 02:16 PM)Au165 Wrote: Some of your comparisons don't hold water because they aren't in regards to saving someone's life...their actual life not quality of life. As for the surgery that is service that the cost can shift as the price to pay people qualified to perform it can go up. The issue in this case, with this specific drug, is nothing changed other than a guy came in trying to milk it for as much possible as quickly as he can. When we allow things such as patents, then we also must have checks and balances to protect the consumer. Patents (especially in pharmaceuticals) are counter intuitive to free market philosophy because they prevent the competition that allows for the true value to be assigned to a good. If we eliminated patents I'd be okay with letting this guy charge whatever he wanted because competitors would come in and we would have stabilization, but since we already artificially manipulate free market then there must be checks in place to stop these things from happening.

Patents in the pharmaceutical industry are akin to state bills outlawing municipal broadband in the telecommunications industry.  We need consumer protections there as well.

[Au165]

(02-05-2016, 02:45 PM)Vas Deferens Wrote: Patents in the pharmaceutical industry are akin to state bills outlawing municipal broadband in the telecommunications industry.  We need consumer protections there as well.

One saves lives and one let's people play candy crush easier (over simplification I know). One is a monopoly that promotes financial gain through innovation and should be allowed with oversight for price gouging. One is a monopoly for the sake of a monopoly and should be done away with compleltey.

[Yojimbo]

I think the biggest problem with the free market and pertaining to the OP, the pharmaceutical industry, is we are losing choices every year due to mergers and buyouts. Our country's antitrust laws are weakening every election cycle and pretty soon every item, insurance policy, credit card, mortgage and utility will be sold to you by "Costco".