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101077Re: Obama and the 'Drug Killer'

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  • Bryon Daly
    Nov 1, 2008
      On Fri, Oct 31, 2008 at 3:48 PM, John Williams
      <jwilliams42@...>wrote:

      >
      > http://www.forbes.com/opinions/2008/10/30/obama-drug-medicine-oped-cx_ch_1031hooper.html
      >
      >
      > As I wrote in the Concise Encyclopedia of Economics: "What complicates
      > the picture is socialized medicine, which exists in almost every country
      > outside the United States and even, with Medicare and Medicaid, in the
      > United States. Because governments in countries with socialized medicine
      > tend to be the sole bargaining agent in dealing with drug companies,
      > these governments often set prices that are low by U.S. standards. This
      > comes about because these governments have monopsony power--that is,
      > monopoly power on the buyer's side--and they use this power to get good
      > deals. These governments are, in effect, saying that if they can't buy
      > it cheaply, their citizens can't get it."
      >

      So the claim here is that Americans are almost solely subsidizing the drug
      development costs for the entire rest of the world? And by posting this, I
      assume you think this should remain status quo? Wow, you must really enjoy
      spreading our wealth around! Welcome to the liberal democratic elite! :-)


      >
      > Drugs are not too expensive in the U.S.; they're artificially cheap
      > elsewhere. It's also not much of an exaggeration to say that new drugs
      > are developed for, and as a result of, the American market because of
      > its pricing flexibility.
      >

      And yet the drug companies still sell those under priced drugs in those
      countries? Can't they just not sell them there if a fair price isn't met?
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