Pharma co. defends 5,000% price increase to Aids medication

[J-hop]

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I get confused sometimes. are you a fan of the invisible hand and free market equilibrium or the heavy hand on the scales by gangster capitalism?

I think he’s pointing out as I’ve mentioned a few times a lot of people on here talk a lot about how great the free market economic model is. Except condemn people like this that (in the medication example) actually use it the way it’s intended to be used just because they don’t like the outcome.


I think people are way more socialist than the want to admit

[Gestalt]

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I think he’s pointing out as I’ve mentioned a few times a lot of people on here talk a lot about how great the free market economic model is. Except condemn people like this that (in the medication example) actually use it the way it’s intended to be used just because they don’t like the outcome.


I think people are way more socialist than the want to admit

Then like him, you are thinking that his style of ganster calitaplism is the same as free markets. You guys might wnat to join 300guy wiht some economics for nursing class.

https://www.triplepundit.com/2011/12...-free-markets/

[J-hop]

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Then like him, you are thinking that his style of ganster calitaplism is the same as free markets. You guys might wnat to join 300guy wiht some economics for nursing class.

https://www.triplepundit.com/2011/12...-free-markets/

Gestalt, I’m guessing you’ll ignore this as every time I challenge you on fundamental principles you run away.

Explain in your own words how what he did with the medication pricing violates the fundemental principles of the free market economy.

Edit: Too funny, your link, specifically points 2,4,5 are perfect examples of the failings of the free market economy concept (which I agree with). I think what you aren’t understanding is just because in a free market a company/product and its consumers don’t reach an optimal equilibrium doesnt mean it violated any of the fundemental principles of a free market economy. You may be confusing the title of “fallacies of the free market economy” as saying those are misunderstandings of the idea of a free market economy.

What it is actually saying is that the free market model is flawed because it makes several assumptions for how the free market will achieve equilibrium. Because those assumptions are violated doesn’t mean it’s not a free market.

[Gestalt]

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Gestalt, I’m guessing you’ll ignore this as every time I challenge you on fundamental principles you run away.

Explain in your own words how what he did with the medication pricing violates the fundemental principles of the free market economy.

I linked you a whole article.

Here are some key terms.
Barriers to entry
Patents
Monopoly
Limited information

All part of gangster capitlaism.. No part of free market

You and busters confusion is common.

[J-hop]

Read my edit. You can’t just throw words out there. Actually explain your reasoning

[Gestalt]

Start here and read slowly.

https://en.m.wikipedia.org/wiki/Free_market

Then keep reading. They have entire economics for nurses course as 300guy took, so its more then I can hand feed you in a post.

Edit. God damn this gramarly thing I installed is annoying. Everything is underlined red. I'm bad but not that bad?

[J-hop]

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Start here and read slowly.

https://en.m.wikipedia.org/wiki/Free_market

Then keep reading. They have entire economics for nurses course as 300guy took, so its more then I can hand feed you in a post.

Edit. God damn this gramarly thing I installed is annoying. Everything is underlined red. I'm bad but not that bad?

I was wondering how your posts got so much better. Yes it’s not wrong your posts used to be almost unreadable haha. Grammar is with two m’s btw.

I thought you said you’ve never taken a single economics course? Again explain how him jacking up the price on a pill violates a free market.

You know what they say, if you can’t explain something in simple terms you probably don’t know what you’re talking about.

Edit: I think you’re also confusing the ideas of contestable and incontestable monopolies. Both will result in the inability of a free market to reach equilibrium, however the former doesn’t fundamentally violate the free market economy principles. The former while violating free market assumptions doesn’t violate the fundemental principle of a free market.

[Gestalt]

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I was wondering how your posts got so much better. Yes it’s not wrong your posts used to be almost unreadable haha. Grammar is with two m’s btw.

I thought you said you’ve never taken a single economics course? Again explain how him jacking up the price on a pill violates a free market.

You know what they say, if you can’t explain something in simple terms you probably don’t know what you’re talking about.

Why would I type it if its literally the first paragraph? How does price fixing and a monopoly fit free market principles? How do patents and other barrier to entry fit free market principles? How does lack of information fit free market principles.

I have a natural nack for the logical diagnosing process. This is similar. I could nt get into mount royal if my mom sat on the board. Highschool was not good to me.

[CUG]

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I think people are way more socialist than the want to admit

I believe in socialized medicine, education, and essential services, that doesn't mean I'm entirely socialist though. People can be middle of the road, but dialogue these days is in such a negative state that everything is polarizing.

[01RedDX]

.

[J-hop]

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Why would I type it if its literally the first paragraph? How does price fixing and a monopoly fit free market principles? How do patents and other barrier to entry fit free market principles? How does lack of information fit free market principles.

I have a natural nack for the logical diagnosing process. This is similar. I could nt get into mount royal if my mom sat on the board. Highschool was not good to me.

Sorry i ninja edited again so you’ll have to go back.

It’s not price fixing as he isn’t conspiring with other companies he’s competing with to set a price and it’s not an incontestable monopoly (see above). Also in a free market companies are not required to share their research, that’s more of a communist approach.

Again, this is a prime example of a failing of the free market economy, especially when it comes to niche/ small consumer base items (health item to boot). But it’s not a violation of the fundemental principles, it’s just an example of how it fails when companies have no interest in competing on a certain playing field.

[J-hop]

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I believe in socialized medicine, education, and essential services, that doesn't mean I'm entirely socialist though. People can be middle of the road, but dialogue these days is in such a negative state that everything is polarizing.

Totally 100% agree with everything you said. It’s just interesting watching individuals displaying blatant cognitive dissonance on the topic (I’m sure I do a ton as well and should be called out for it). On one hand on certain topics people will rave about how great a free market is, how Canada is too restrictive etc, then pull out hyper socialist ideas on another topic like say dealerships selling above MSRP

[Antonito]

“Gangster capitalism” is a phrase that Ayn Rand free market fanboys use in the same way that Communist wannabes say that the USSR is not a true representation of communism. Both ignore how the real world works

[Buster]

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It depends on how you define "allowed." Some people have this thing called ethics but yes, you can be highly unethical without breaking the law.

A conscientious businessman's ethics would not have allowed him to do something as egregious as this.

I'm okay with people calling him an idiot, or a meanie, or an asshole, etc.

But it does not follow that we should restrict freedom of association - which is fundamental to any free society. I'm not interested in the debate on Skreli's merit as a human being, I'm just interested in defending his rights.

[kertejud2]

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I'm okay with people calling him an idiot, or a meanie, or an asshole, etc.

But it does not follow that we should restrict freedom of association - which is fundamental to any free society. I'm not interested in the debate on Skreli's merit as a human being, I'm just interested in defending his rights.

It is indeed noble to defend a person's rights that weren't being infringed upon in the first place.

[Buster]

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It is indeed noble to defend a person's rights that weren't being infringed upon in the first place.

wut?

Suggesting that he not be allowed to set pricing for his own products is suggesting his rights be infringed.

[Gestalt]

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wut?

Suggesting that he not be allowed to set pricing for his own products is suggesting his rights be infringed.

Price fixing is illegal in most countries.

Probably because it goes against free market principles.

[J-hop]

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wut?

Suggesting that he not be allowed to set pricing for his own products is suggesting his rights be infringed.

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Price fixing is illegal in most countries.

Probably because it goes against free market principles.

Setting your own price on a product is not price fixing. I think before bashing people because they “took a nursing economy course” you should probably read up on basic definitions.

[Gestalt]

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Setting your own price on a product is not price fixing. I think before bashing people because they “took a nursing economy course” you should probably read up on basic definitions.

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Setting your own price on a product is not price fixing. I think before bashing people because they “took a nursing economy course” you should probably read up on basic definitions.

I'm very close to starting to ignore your continued misinformation.

https://www.investopedia.com/terms/p/pricefixing.asp

https://www.reuters.com/article/us-u...-idUSKBN1D0201

[J-hop]

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I'm very close to starting to ignore your continued misinformation.

https://www.investopedia.com/terms/p/pricefixing.asp

https://www.reuters.com/article/us-u...-idUSKBN1D0201

You have to start reading beyond the first sentence. Price fixing is an agreement between producers...........

Directly from the article:

BREAKING DOWN 'Price Fixing'
A business fixes price by colluding with one or more of its competitors to buy or sell goods and services at an agreed price. These companies usually fix prices at a horizontal or a vertical price. Horizontal price fixing occurs when companies decide to fix prices or price levels for a good or service at a premium or a discount. For example, several retail companies may fix the sale prices of television sets at a premium, thereby, earning higher profits. The retail companies may also agree to fix the prices of television sets at a discounted price. In this case, consumers will be more inclined to purchase from the colluded businesses than from businesses not involved in the sales manipulation.

Price fixing is NOT one company setting it’s prices independently