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Author: MadCapitalist Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75790  
Subject: Re: Bush and the self employed Date: 2/5/2003 4:15 PM
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Regulating pharmaceutical companies so people can afford to get the medications they need without being gouged by sometimes as much as 1000%-2000%? No.

The reason that drug prices are high is because of the patents. Patents are given by the government to allow monopolies so that businesses will be able to charge higher prices. The reason that the government is willing to do this is because it increases the profit incentive and encourages companies to invest more in research (which is both very costly and very risky) so that they will develop more and better drugs.

The government *could* regulate the pharmaceutical companies, or it could just stop allowing patents on drugs. Both will have the effect of dramatically reducing prices. Of course without the profit incentive, it would also eliminate most of the innovation in drugs. I don't think this is a very desirable solution.

Your post demonstrates that you understand little about the negative effects of socializing the economy. Free economies are the ones that create wealth for everyone to enjoy. You can cry about the poverty in the US, but the poor in the US are much better off than the poor in most other countries. This is because we have a relatively free economy. Unfortunately, our politicians are successfully moving us in the wrong direction. If you want to really help the poorest people in the US, then vote for people who will dramatically cut taxes, government spending, and regulation. That way the economy will grow much more rapidly and provide the poor with what they *really* need -- jobs.
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