Well, a little known fact is that I only get 5% over the cost.... ;-( From: Lewis Bergman Sent: Friday, December 18, 2015 7:47 AM To: af@afmug.com Subject: Re: [AFMUG] OT - Captilism (was Martin Shkreli)
I can't defend his brashness, but the fact remains that pure capitalism is the best way demonstrated to date to innovate and health care or pharma is not exempt. Big rewards encourage big effort yielding big results. These pharma companies have something like 7 years until the exclusivity period expires. That can be a pretty short time to recover investments. This particular case may be a bit extreme but to say that capitalism is broken in America is simply ludicrous. I recently attended my sons graduation from Texas Tech on a Friday. Thursday night at the hotel was $159 and Friday was $269. I don't think that is price gouging. I think it is a reflection of the simple fact that there are fewer rooms available on that particular night than are demanded at $159. The equilibrium was found at $259 where supply and demand come closer to being equal. At that price I still witnessed people turned away wanting a room due to their poor planning. I don't think that is price gouging. Their hotel was full at $269 a night. The next day was $159 again. Since the hotel was full they probably could have been even higher. I really don't understand what people have such a huge issue with the fundamental theory of supply and demand. Yes I understand that it is a potentially life saving drug. There are other cheaper treatments. Maybe they aren't as good, which is why they are cheaper. When did we stop rewarding people for the value they provide? I know this jerk didn't invent it but he obviously was willing to reward those who did with a price they thought fair. Sales over the next few years will prove if he made a mistake. Why not force Chuck to sell a unique mount he made for 5% over cost? Heck, why not only cover his cost? Why not less than cost and force him to provide his great product for the good of the people? There is a reason it is named Animal Farm. How many have read this book? While not about capitalism it does speak to the kind of central control that skulks below the overt argument for "controlling" this type of behavior. I know people might die. I'll put on my really jerky hat and say "so what?". People die every day for less meaning and in greater numbers. There is practically a mass suicide movement going on now with texting and driving. I don't see where people value there lives or others that much anyway when reading a text or email is more important than life itself. I guess I am just a big libertarian at heart. Give me the loose framework of a "fair market", whatever that is, and let the system fight it out. The word isn't fair, not ever going to be fair, stop trying to warp it to be that way. Have fun with that on a Friday and have a Merry Christmas, Happy Hanuka, or whatever else gets your boat floating. On Fri, Dec 18, 2015 at 8:02 AM Patrick Leary <patrick.le...@telrad.com> wrote: The irony? Your local poor schlub a-hole can be arrested and charged if he doubles the price of gas, water, or other life-critical goods after a natural disaster – that’s a crime in America. Meanwhile, it’s completely legal for a company to raise a life-critical drug by over 5000% -- that’s capitalism in America. Shkreli is only the most written about example. This “business trend’ is all the rage and has been widely employed in the U.S. for a number of years now. http://news.health.com/2015/09/25/6-insane-examples-of-prescription-drug-price-increases/ Patrick From: Af [mailto:af-boun...@afmug.com] On Behalf Of Ken Hohhof Sent: Thursday, December 17, 2015 8:28 PM To: af@afmug.com Subject: [AFMUG] OT - Martin Shkreli Apparently this guy AND HIS LAWYER were arrested today. Everybody knows him as the guy who raises drug prices 5000%, but I did not know he live streams almost daily to his fans. Watch the first video, isn't he just like every annoying, entitled, slacker kid living in his parents basement that we have to deal with bitching about his Internet? Except he is CEO of a drug company. I didn't think it was possible to hate him more, but watch the video. https://www.youtube.com/channel/UC8gjB1PSXv_oAUSAQ16S0fA ************************************************************************************ This footnote confirms that this email message has been scanned by PineApp Mail-SeCure for the presence of malicious code, vandals & computer viruses. ************************************************************************************ ************************************************************************************ This footnote confirms that this email message has been scanned by PineApp Mail-SeCure for the presence of malicious code, vandals & computer viruses. ************************************************************************************
