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Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

mattstoller.substack.com

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Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#171

Post by Karsteski »

LimaBearz wrote: post #157
revscat wrote: post #90

Earlier quoted context omitted.

I’m not sure what your point is. These contracts between seller and merchant were voluntary. There are other hospitals available should you choose, and if not then you have no one to blame but yourself.

I love how conservatives still make this argument. You're arguing for the free market in a system that literally isn't, and doing it in such a way that it tries to be a thought-terminating cliche. If you get into a car accident tomorrow driving to work, the ambulance/paramedics aren't going to ask you to do your research prior to shuttling you to a hospital to get life saving treatment. Even if you could how would yo…

I agree with the premise of your argument, but why did you have to start it with "I love how conservatives still make this argument"?

You have no idea what that person's thoughts or beliefs are...

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#172

Post by foota »

lotsofpulp wrote: post #70
slg wrote: post #67

Earlier quoted context omitted.

>An example of how many (most?) monopolies are able to exist because of some sort of legal authorization or protection. Regulatory capture. To be clear this "legal authorization or protection" is not necessarily over regulation. Depending on the market, sometimes monopolies are the result of too much government regulation and sometimes they are the result of not enough government regulation. For example, most of the…

> For example, most of the big tech monopolies do not exist because of regulatory capture. They exist because the government never put in enough effort to stop the monopolies from forming. Is it possible they exist because the immense economies of scale and near zero marginal cost that software provides makes for a winner take all market? As a customer, why would one use the 2nd best option, when the best option is a…

I don't know if I would argue it applies to tech, but the economic term for this is a "natural monopoly", a market where the most efficient outcome is to have a single supplier. A common example is electrical transmission, since it wouldn't make sense to have 3 separate overlapping distribution networks. These are typically allowed to exist by regulation and controlled in some way, for example there is the common carrier concept for electrical transmission.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#173

Post by BuyMyBitcoins »

revscat wrote: post #90
giantg2 wrote: post #55

Earlier quoted context omitted.

Only for billing cost of procedures. It's still a mess. Did you know that hospitals make money by using name brand medications? They will get a contract with a brand, like Motrin, and charge you full price at $8 a pill. Then Motrin will will evaluate how much the hospital used and give them a big rebate to bring the hospital's cost down under $1 per pill. You can literally buy a bottle of ibuprofen for what they char…

I’m not sure what your point is. These contracts between seller and merchant were voluntary. There are other hospitals available should you choose, and if not then you have no one to blame but yourself.

I’ve actually tried to “shop around” for hospitals and it’s basically impossible. Just about everything is hidden behind some barrier and there’s just no way to effectively compare prices. Additionally, you really have no idea what products or services you’ll end up receiving while at the hospital.

Most importantly, ALL of this planning and sense of choice goes out the window when you have a true emergency. When that happens all that matters is getting to an ER, fast.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#174

Post by lumost »

BuyMyBitcoins wrote: post #173
revscat wrote: post #90

Earlier quoted context omitted.

I’m not sure what your point is. These contracts between seller and merchant were voluntary. There are other hospitals available should you choose, and if not then you have no one to blame but yourself.

I’ve actually tried to “shop around” for hospitals and it’s basically impossible. Just about everything is hidden behind some barrier and there’s just no way to effectively compare prices. Additionally, you really have no idea what products or services you’ll end up receiving while at the hospital. Most importantly, ALL of this planning and sense of choice goes out the window when you have a true emergency. When that…

Not to mention that for scheduled procedures nearly every doctor will require their own imaging for 40-50k a pop at list price before even discussing treatment options and cost.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#175

Post by the_third_wave »

toomuchtodo wrote: post #163
the_third_wave wrote: post #158

Earlier quoted context omitted.

The only progress needed here is for the protection racket to be broken down, this can be done with the stroke of a pen. Allowing it to "take time" only gives those who seek to extract as much money as possible from the artificially limited market more time to do so.

I encourage you (and others) to actively engage with your Congressional representatives and regulators in this regard.

Being European I think they will pay even less attention to me than they would to their constituents. Hearing aids are expensive on this side of the Atlantic as well though - although less expensive than in the USA - so it is still worth finding a way to open up this market. Just like intrepid hackers managed to turn routing appliances into versatile network components by creating OpenWRT, DD-WRT and similar "hacks" it would be refreshing to see something like this happening by someone creating new firmware for earbuds. While this would not be a real solution - hearing aids need longer battery life than earbuds for starters - it would give lie to the defence of high hearing aid prices. Any earbud with active noise cancellation probably has enough DSP capacity to implement the equaliser necessary to function as a hearing aid so the hardware should be available for such a hack.

There was an IndiGogo project aiming to produce 2-in-1 earbuds/hearing aids, it was funded in 15 minutes...

https://www.indiegogo.com/projects/olive-pro-2-in-1-hearing-...

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#176

Post by renewiltord »

bpodgursky wrote: post #107
throwawayswede wrote: post #54

Earlier quoted context omitted.

They're part of the same mafia, Pharmaceutical Research & Manufacturers of America spent $8664000 in 2021 only on lobbying. https://www.opensecrets.org/federal-lobbying/top-spenders

Do you think this is a big number? $8mm across a huge industry is barely enough to get a legal team out of bed. This is really pocket change.

What about $8664000.00? I made it slightly longer. I can add some more zeroes.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#178

Post by renewiltord »

giantg2 wrote: post #156
deregulateMed wrote: post #153

Earlier quoted context omitted.

American Medical Association, aka physicians

And what was the legislation? How was it monopolistic in favor of physicians? The AMA does not really represent physicians. Less than 1/4 of doctors belong to the AMA. Many of them do not feel the AMA represents them. The AMA also accepts substantial donations from other sources, including corporate donors and foundations. https://www.physiciansweekly.com/is-the-ama-really-the-voice...

The lobbying to:

A. Limit medical care to being provided by these people

B. Limit number of residencies

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#179

Post by jwilber »

revscat wrote: post #90
giantg2 wrote: post #55

Earlier quoted context omitted.

Only for billing cost of procedures. It's still a mess. Did you know that hospitals make money by using name brand medications? They will get a contract with a brand, like Motrin, and charge you full price at $8 a pill. Then Motrin will will evaluate how much the hospital used and give them a big rebate to bring the hospital's cost down under $1 per pill. You can literally buy a bottle of ibuprofen for what they char…

I’m not sure what your point is. These contracts between seller and merchant were voluntary. There are other hospitals available should you choose, and if not then you have no one to blame but yourself.

This may be the most uninformed comment I’ve ever read in this site. Ever.

Just completely clueless as to how things are/operate regarding healthcare in the real world.

Re: Biden launches action on "Big Tech, Big Pharma, and Big Ag" – can it be real?

#180

Post by s1artibartfast »

warglebargle wrote: post #169
s1artibartfast wrote: post #139

Earlier quoted context omitted.

But you don't need to be a monopoly or even a big company to have an awful feedlots, monocrop farming, ect.

if you have 2 big companies they’re “too big to fail” and can better whether lawsuits with massive legal teams, settlement money, pr firms… if you have a thousand smaller companies you can bankrupt 100 and be ok

Wanting to avoid companies that are "too big to fail" is a perfectly valid reason to favor smaller companies. Most of the reasons above are not.
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