Goldman Sachs: Curing Patients’ Illnesses Is Bad for Business

It is the heart of Capitalism
Profits are the #1 priority

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basic admission that the typical capitalist is scum and should not be expect to be anything but a profit chasing scum bag

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Capitalism is a necessary evil because without the profit motive, many products will not be produced and many services will not be provided. However, it should be be allow to run unchecked, thus the regulations, how much regulations is up to debate and why we have elections.
There is an old Chinese saying that there will always be people who are willing to risk execution to make a profit, but no one will be willing to take a business venture that is not profitable.

 

The whole premise here is it does that exact opposite. Not cure, but treat.

I don't really have a problem with what he said. He's right, and something we need to recognize. Drug companies are better off treating a patient than curing them.

 

I think I mostly throw in with the capitalists here. I don't see how a nonprofit can justify the big stakes and the risk-taking that comes with pharma today. If we took for-profit companies out of this industry, I don't think we'd have much of an industry at all. While government can put the capital to work in pharma and take risks, I shudder to think at how poorly they'll manage it without market accountability. So I think the for-profits have to have a prominent role. A hybrid ecosystem (like what we have, I suppose) might do the best at covering the deficiencies of any one model with diversification. If there is a cure that for-profits won't pursue, government can pursue it. If there are cures that government is not in a position to distribute, a non-profit can do it. If there is a quality of life drug that is not mandated by public interest nor very sexy to the nonprofit, a for-profit can bring it to market.

 

and Jesus said to his disciples... "how much profit can we wring out of the wretched, sick and poor?"

 

Guess who is the biggest funder of medical R&D in this country?

 

I think what's glaring in our current hybrid system is how easily it is for the lobbyists to espouse black-and-white either-or platitudes to weaken the opposing institution. Regulatory capture is real, and it's one of many issues the people have to maintain vigilance.

"But that's rationing" or "that's pure greed" doesn't reflect complex realities even for well intentioned pharma leaders.

 

Medicine has been so regulated and controlled by government which has only caused prices to go up!! Sounds like the conundrum with government involvement in Housing and Education. If people think a government cannot run out of money and money will not be lost in bureaucracy even if its 100% controlled single payor system they're sadly mistaken.

I think what is needed is less regulation, less government, less regulatory and licensing that kills innovation in the field.

The fact that a dental hygienist that has been cleaning teeth for 30 years cannot go and open her own shop to do basic teeth
cleaning. Instead she has to work under some dentist that just got out of school is a travesty. The idea that licensing protects anyone
except the practitioners has killed the ability for Walmart to have a teeth cleaning service in their stores or other examples of those
innovators bringing large scale efficiency the way McDonalds can charge 1.99 for a burger and a drink which is impossible for a small
local restaurant. Doctors offices are like small mom and pop restaurants and even the larger groups and hospital groups are flawed
as they bill per service and not for health. But the lack of flexibility has killed the ability for businesses and consumers which pay tons of
money to have different arrangements.

Allowing these regulatory groups to control the supply of healthcare has driven up prices and limited its evolution.

We don't need more regulation, we need less.

 

It's all about degrees. Drug companies get patents on their medicine. They then employ huge legal teams that go out there and find people infringing on those patents and take various sorts of actions. Some of it is great because it prevents people from marketing bogus and even harmful products as drugs that are actually beneficial. Some of it might seem greedy because they go after and try to prevent the use of generic forms of the drugs. Those generic drugs would definitely help huge numbers of people improve their health. At the same time, I understand that the people who hold the patents and came up with the innovation deserve fair compensation.

 

You guessed it:

Spoiler

Frank Stallone

 

Like All Drug Dealers
The Profit is in the come back



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