POLITICS & DONALD Annoying Orange MEGATHREAD

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Cappytaino:

--- Quote from: Nonnel on January 01, 2018, 03:28:46 PM ---That's true. Maybe give five years or so before it goes public domain so they can get a head start?

--- End quote ---
Patents usually last 20 years from the filing date, so perhaps shortening the term of that to 5 years for pharmaceuticals could be very beneficial. The incentive for R&D is still mostly there, but it doesn't allow for two decades of a monopoly on vital medications, particularly things like insulin with a captive customer-base (diabetics have to buy it or die)

This demands on the elasticity of the good, however. Things like Insulin or certain cancer medications are relatively inelastic (their demand won't really decrease much if price increases), and would be more a measure to protect the consumer from price gouging.

Kearn:

--- Quote from: Nonnel on January 01, 2018, 02:57:38 PM ---Don't allow patents on medication would be a good start

--- End quote ---

>spend a billion dollars of private investment on the development of a drug that will improve the lives of thousands or millions of people
>not allowed to have a limited period of time to be the sole profiteer to recoup the investment and produce payoffs for the people who took the risk by investing in a venture highly liable to fail and produce nothing

ok

Nonnel:
read a little further down the page

SeventhSandwich:

--- Quote from: Cappytaino on January 01, 2018, 03:01:41 PM ---I don't disagree that patents certainly can do a lot of harm with regards to price inflation of medication, but at the same time they're one of the larger protectors of the incentive for investors. Without capital from investors, where are you going to get all the money to develop new drugs?

--- End quote ---
So if we switch to a single-payer system, we get to keep the profit incentive for investors and pharmaceutical companies, people get healthcare, and the only downside is that we'll be paying more taxes for something that benefits society more than 99% of the stuff we spend federal income tax on.

sounds like a pretty good deal to me

Kearn:

boy considering the government alone already spends more money on healthcare per capita than almost every other country in the civilized world you'd think we'd already be there huh

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