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

mattstoller.substack.com

321–330 of 595 posts

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

#321
Well, I hope this does some good, but I'm a bit skeptical. I think we need more focus on how to help freelancers, gig workers and microbusiness actually succeed as a counterpart to preventing big business from preying upon small business.

It's something I personally try to promote but I feel I have little in the way of success. I still struggle to make it through the month myself and my various projects intended to help others seem to mostly kind of languish, with one exception and I have no hard data on how much good that is doing.

I think my efforts aren't pointless or fruitless, but it never seems to be enough to actually resolve my chronic poverty and I don't get enough feedback affirming that the lives of others suck less thanks to me.

That kind of thing is maybe part of what helps drive a concentration of money and power.

I think we overregulate small business. You need to know a lot of laws and regulations to operate at all and if you are one or a few people, that's a big burden. It's less of a burden for big business to play that game because they make enough money and have enough people that it's a relatively small part of what they do and I think that regulatory burden is one of the things hampering small business, just like it tends to impede the development of affordable housing.

I don't know the answers. I just am skeptical that focusing exclusively on breaking up monopolies and putting a break on big business actually breathes life into small business. It's perhaps a necessary but insufficient precondition.

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

#322

Earlier quoted context omitted.

In 2018, the average insulin price in the US was $98.70, compared to $6.94 in Australia, $12.00 in Canada, and $7.52 in the UK. This is a 100 year old drug.

Correct. The price of Insulin has nothing to do with "funding research." It is simply price gouging - that's it.

The price of insulin specifically is largely a consequence of perverse regulatory incentives, particularly the Obamacare-related expansion of the 340B Drug Pricing Program and its mandatory, byzantine, opaque rebate structures. Don't think it's just the manufacturers who are at the center of this price gouging, not by a long shot; hospitals and pharmacies are all too happy to ride that gravy train.

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

#323

Earlier quoted context omitted.

Have you considered stocking up at the Mexican border? So many things are available over the counter in Mexico its awesome.

Is that legal?

You can personally import up to 3 months worth of medications if you have doctors prescription.

https://www.fda.gov/industry/import-basics/personal-importat...

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

#324
post #299
post #63

Earlier quoted context omitted.

I don't see most physicians being an issue. Many of them are fed up with the insurance, pharma, and regulations. Most are forced to work for large providers instead of being independent just due to the overhead of dealing with digital record systems, legal, insurance billing, etc.

I've heard they're fed up w/ insurance, billing...but the few times I've asked "hey what if I pay cash, not through insurance, is it cheaper?" (I knew I wont meet deductible...) It was actually more expensive. I've stopped asking and feel it's a urban myth.

The list price will nearly always be a multiple of your cost with insurance. The issue here is that insurers have provisions in their network contracts that prevent providers from publically advertising lower prices than what's charged to the insurer, which mandates discounting. In many other industries, these most favored nation arrangements are considered anti-competitive and, thus, illegal.

Large hospital systems totally separate business and care, so it can be difficult to negotiate a discount. Smaller and independent providers are often more accommodating. However, you need to ask for a discount, you can't simply offer to pay cash (i.e. "If I pay cash, can I get 40% off"). The providers can counter your offer, but can't discount you off the bat or else they invite legal action from insurers.

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

#325
post #252

Earlier quoted context omitted.

My contact lens prescription is similar.

Contact lens prescriptions change though, and bad contacts can do subtle damage to the wearer’s eye. I have permanent scarring in my eyes because I over-wore my 2 week contacts, my fault I know, but without an eye doctor appointment I would have done even more damage.

Wow, no kidding? I used to wear mine for months, maybe even close to a year. Anytime I had my eyes examined I asked how my eyes looked due to the constant wear and the optometrist told me they looked great but frowned at me doing so. I figured the disposable contact thing was mostly a racket, but I had some doubts. I wear glasses now.

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

#326
post #267

Earlier quoted context omitted.

Kaiser has no specific preventative care requirements and does not withhold care if you are not up to date on some schedule. In fact Kaiser works pretty much exactly like any other HMO with the main difference being that insurance is in-house (but a different department, so insurance screwups still happen, but at least the hospital and the insurance are not constantly fighting each other with you stuck in the middle)…

If we had socialized medicine like my local Kaiser, I would be so excited. I honestly haven't been treated anywhere else with the same level of care and concern. I used to hate doctors because of bad experience, but the Kaiser system convinced me to take care of myself on a routine basis. Just one opinion, but thought I'd share.

Glad it worked for you. I've had both good and terrible experiences at Kaiser (in pretty serious circumstances such as major op and post-op experiences), and a similar spectrum at other HMOs. I don't think Kaiser is a panacea, although I agree single-payer looks like the only way to fix the systemic economic issues and Kaiser is a bit closer to that model than other HMOs.

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

#327

Earlier quoted context omitted.

Some people buy an iPhone just because Apple imposes draconian rules on Facebook. People do put a price on privacy, thousands of dollars probably. When you reduce the value of interconnecting people to a linear scale, it’s unfair. How much value do you put on a friendship? How much value do you extract from belonging to a Facebook group? It’s probably a million dollars per person. It doesn’t mean the privacy part isn…

> thousands of dollars probably. > How much value do you extract from belonging to a Facebook group? It’s probably a million dollars per person. No idea what you’re on about. The average person doesn’t buy Apple products, they have a small percentage of market share. You’re just throwing absurd numbers around. You’ve argued my point: people value socialization (millions, according to you) more than they value privacy…

Nit: Apple has 52% of the US mobile market share: https://www.statista.com/statistics/266572/market-share-held...

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

#328

Earlier quoted context omitted.

This one is particularly prickly because the high cost paid in the US funds medical R&D and extremely expensive clinical trials which other countries are free riding on by imposing price controls. We still need to fund the R&D and clinical trials (unless they could be made less expensive somehow), so the most obvious solution would be to have other countries pay their fair share so the US could stop subsidizing every…

In 2018, the average insulin price in the US was $98.70, compared to $6.94 in Australia, $12.00 in Canada, and $7.52 in the UK. This is a 100 year old drug.

If it was actually 100 years old the patent would be expired. So you're actually seeing newer drugs that use the same name.

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

#329
post #291

Earlier quoted context omitted.

So are the nannies and the landscapers. Are these also a racket?

Services from nannies and landscapers are nontradeable goods. See https://en.wikipedia.org/wiki/Tradability

Drugs are almost non-tradable goods because of all the regulations and differences in drug standards between countries.

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

#330

Earlier quoted context omitted.

This one is particularly prickly because the high cost paid in the US funds medical R&D and extremely expensive clinical trials which other countries are free riding on by imposing price controls. We still need to fund the R&D and clinical trials (unless they could be made less expensive somehow), so the most obvious solution would be to have other countries pay their fair share so the US could stop subsidizing every…

Idk why any politicians arent picking up on foreign price controls as a means of lowering costs in the US. It should be a part of the discussion during any trade talks with Europe.

What you're literally saying is: instead of ending predatory pricing, enforce it for the rest of the world.

Here's a novel idea: cut military spending in half, and you can provide all the free medicine to all Americans for the rest of their lives. All the while making the world a safer place.

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