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McKinsey to pay $573M to settle claims over opioid crisis role: source

reuters.com

511–520 of 572 posts

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#511

Earlier quoted context omitted.

Changes for the better will necessarily be extreme. If that weren't the case, we would have found a way to accomplish them already. Your "conservative" aunt won't like the changes we need any more than your "liberal" uncle will. News media firms are owned by people who like and propagandize in favor of the current system. It isn't important that all Americans like each other. In our current situation, 95% of American…

> Changes for the better will necessarily be extreme. It’s long been my loosely held belief that _extreme_ change to a political system will _necessarily_ harm the average citizen. I think history has shown that to be true fairly consistently.

sometimes the short term harm inflicted on a few is worth the benefits it will bring society in the long term

"Our shudders are all for the “horrors” of the minor Terror, the momentary Terror, so to speak; whereas, what is the horror of swift death by the axe, compared with lifelong death from hunger, cold, insult, cruelty, and heart-break?"

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#512

Earlier quoted context omitted.

If big companies face no consequences, then our society will fall apart. They have ruined millions of lives and are responsible for a large portion of the 450k overdose deaths from 1999 to 2018. It amounts to literal gambling with people's lives and the individuals responsible face almost no risk. The worst thing that happens is that their company has to pay a big fine. Someone who steals a car will face a multi year…

>If big companies face no consequences, then our society will fall apart. It currently is and I don't see any sign of it stopping. The foundation was laid in the 80s, the roof fell in on January 6th, and the Democrats don't have enough of a spine to actually fix the problem because Republicans keep calling them mean names.

democrats always seem to fold because the right has moneyed interests on their side, politicians will never act in our interests unless we make the cost of not doing so greater than the cost of helping us

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#513

Earlier quoted context omitted.

If big companies started facing consequences for their actions our economy would fall apart.

So let's allow all big companies to do whatever the fuck they want, because otherwise "our economy would fall apart"? This is the darkest comment I read on HN.

or maybe it means an alternative way of organizing society is needed

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#514

Earlier quoted context omitted.

I agree that big companies don't face meaningful consequences often enough for their misdeeds. My comment was referring to your statement that if we did hold them accountable, the economy would fall apart.

Why do we cling to the idea that the present form of our economy is somehow justified or sustainable?

its easier to imagine the end of the world than the end of capitalism

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#515

Earlier quoted context omitted.

>When I'm saying we need to bridge the gap between left and right, I'm not saying we need to preserve the status quo exactly as it is. The Democrats have been trying to bridge the gap for 30 years and the Republicans keep spitting in their face (Newt Gingrich in the 90s, the entire party vs Obama in the 00s). The Democrats seem to have finally figured this out and Republicans are now upset that it isn't working any m…

We have about as much chance of changing politicians by talking about their parties as we do of changing the outcome of a sporting event by yelling harder for our favorite team at the (30-second-delayed) TV. Maybe we should be more interested in what people can do, than what politicians can't.

I thought our government was supposed to be "of the people" (also known as a democracy). Maybe we should expand access to voting (e.g. easier to register, no-excuse mail-in ballots, adding polling places, making election day a holiday, and/or extending voting days). We could also address gerrymandering and other structural issues (e.g. some system other than first-past-the-post).

Now think about which side wants to do this and which side wants to stop them.

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#516

Earlier quoted context omitted.

How do you design an unemployment/UBI system that provides an incentive not to use it unless necessary and not to stay on it any longer than is necessary?

You don't have to. How many people have you met who were happy doing nothing, living with nothing, AND who made good employees doing anything at all? I've met exactly zero. The ambitious won't want to stay there; the unambitious may "unfairly" get their basic needs met, but they're hardly living the high life, and the lost -useful- labor to society is negligible. Almost certainly more than offset by the ambitious who…

> How many people have you met who were happy doing nothing, living with nothing, AND who made good employees doing anything at all?

Several members of my partner's family meet this description. They fit the welfare queen stereotype to a T. That's just immediate family. I've met plenty. Maybe you just don't have contact with people who would?

> Almost certainly more than offset by the ambitious who can now take risks they otherwise couldn't, knowing that if they fail they at least aren't going to end up hungry and homeless.

This is a completely unsubstantiated claim. How are you measuring this and where's the evidence? Yeah, it sounds great and is something people want to believe is true, but where's the hard evidence?

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#517
post #418

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Anecdotally I’ve seen both sides. I’ve seen people get social security or disability benefits and coast for the rest of their lives without working even though they have the ability to do so without affecting their benefits. I assume they value sleeping in and not having to answer to anyone. Their idea of a good time is spending hours hiking or watching tv or various other things that have negligible cost. I’ve also…

Yeah; I wasn't saying one side doesn't exist. It was more in tandem with my parent post - the people who are happy to watch TV, hike, just kinda bum around, doing nothing else, desiring nothing else...how often are they great workers? I meant the question in response to the observation that "we don't know what happens long term if people are promised this kind of money" - right, but the presumption there is that it w…

> how often are they great workers?

It's not about them being great workers or not. It's about them carrying their own weight at minimum instead of offloading that burden to the productive members of society.

There's no lack of jobs society needs filled that provides utility to society even when done by bad employees.

I don't think it is unreasonable for the productive to be fully decoupled and unburdened from the willfully unproductive.

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#518

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The reality is that this is a very difficult situation all around. 1) Lenders probably shouldn't be lending money to people they know cannot repay the debts. This is also why APRs are so high - most people simply don't. 2) People who know they can't repay the debts shouldn't be borrowing in the first place. This is also why lenders have to go to such extremes to collect their debts. This is a function of being poor i…

How do you design an unemployment/UBI system that provides an incentive not to use it unless necessary and not to stay on it any longer than is necessary?

Naval ravikant put it succinctly , the real issue is that once the 51% know they can vote to redistribute the wealth of the remaining 49%, then that opens the door to...well, the JRE clip goes deeper

https://m.youtube.com/watch?v=eHim7CMOZ6U

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#519

This is far too low. A fine large enough to destroy the company (as was effectively done to Purdue) would have been the only palatable outcome. And even more importantly, legal repercussions for all their employees who were personally responsible for this. All this settlement achieves is 'a cost of doing business', as they say. It's not punishment or deterrence. McKinsey and other companies like them will do similar…

From the New York Times article, "The amount McKinsey is paying is substantially more than it earned from opioid-related work with Purdue or Johnson & Johnson, Endo International and Mallinckrodt Pharmaceuticals, its other opioid-maker clients, a person involved in the settlement negotiations said" To me, "a cost of doing business" implies that they're making more money than it costs them. Here at least, that doesn't…

Look at all the scumbag things McKinsey has done without paying any settlement. If there is a 10% risk of getting caught, from a decision calculus perspective this is a $57m fine.

Re: McKinsey to pay $573M to settle claims over opioid crisis role: source

#520
post #443

Earlier quoted context omitted.

$573M for 450,000 overdose deaths. $1k+ per death.

Do you think this amount is high or low?

It’s too low. The 20 people most responsible for willfully creating this epidemic should get lethal injection, the next 200 should get life in prison without parole. Then some measure of justice will be served, fines or no fines.
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