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RE: You Don't Understand Opportunity Cost
Posted on: November 25, 2016 at 17:06:38 CT
aj_arete01 MU
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That's why you're assuming I'm all over the place. Yes, I recognize that health costs are very high and that it's hard for low income and middle income households to get adequate health coverage. I thought that was your argument.
However, I also recognize that a strong patent system encourages innovation and research. I don't think you realize the billions of dollars that go unfulfilled in the pharmaceutical market. That's why they need to monopolize the few drugs that reach the market so that they can offset the losses from the failed drug ventures.
If you weaken patents and allow generics to enter the marketplace, why not wait until someone else pays the upfront costs of their research and then steal it for profit. That's what Europe depends on. They take advantage of the research done in the US, so that they can steal it and charge lower prices to their consumers.
The only problem with that is if you weaken patents everywhere, you will have fewer new drugs to steal as the incentive weakens.
Edited by aj_arete01 at 17:07:30 on 11/25/16
However, I also recognize that a strong patent system encourages innovation and research. I don't think you realize the billions of dollars that go unfulfilled in the pharmaceutical market. That's why they need to monopolize the few drugs that reach the market so that they can offset the losses from the failed drug ventures.
If you weaken patents and allow generics to enter the marketplace, why not wait until someone else pays the upfront costs of their research and then steal it for profit. That's what Europe depends on. They take advantage of the research done in the US, so that they can steal it and charge lower prices to their consumers.
The only problem with that is if you weaken patents everywhere, you will have fewer new drugs to steal as the incentive weakens.
Edited by aj_arete01 at 17:07:30 on 11/25/16
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RE: You Don't Understand Opportunity Cost - aj_arete01 MU - 11/25 17:06:38