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

mattstoller.substack.com

341–350 of 595 posts

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

#341

Earlier quoted context omitted.

What? Driving with headphones is forbidden where I am. And at minimum you need to be able to hear a carhorn.

Are deaf people forbidden to drive where you are?

They're not, but it's still illegal to drive with headphones.

Deaf people still are unable to properly hear so are more unsafe when driving. They're legally allowed to do so because of deaf people lobbying legislators to force them to be allowed to do so.

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

#342

Earlier quoted context omitted.

> Biden recorder the most votes in history, while winning the fewest counties. That's a head scratcher. Why is that a head scratcher? 40% the us population lives in just 100 counties (of 3000)

The stacking of improbabilities is a head scratcher. 12 million vote increase over Obama with 300+ fewer counties. Must be wildly more popular. Yet was losing the nomination of his own party. Can't 10k views on youtube, but somehow more black people turned out to vote for him in Detroit than Obama. I, like 40%+ of Americans have doubts about this Election.

> The stacking of improbabilities is a head scratcher. 12 million vote increase over Obama with 300+ fewer counties. Must be wildly more popular.

Counties are a meaningless, nonuninform unit, and even if they were the exact same counties minus 300, so what? That just means bigger margins in the counties he won, which would be consistent with greater regional polarization.

> Yet was losing the nomination of his own party.

Biden was the clear winner much sooner in the process than Obama was.

> more black people turned out to vote for him in Detroit than Obama.

Why is it surprising that more black people turned out to vote against Trump than McCain? (That votes in a two-party system are quite often more against the oppoaing major party than really “for” the partt marked is well-known.)

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

#343

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…

Pharmaceutical companies spend even more on advertising than on R&D and still highly profitable though.

It could easily be the case that without the advertising spend they would not be profitable. Do you think these publicly traded companies are wasting tons of money on advertising? Where is the shareholder outrage?

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

#344

Earlier quoted context omitted.

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.

Are you aware that the US government already spends far more on health care than it does on the military? Half the US defense budget is no where near the amount spent on healthcare in the private sector.

I wasn't, so I went and looked it up and you were right from what I found -

Healthcare:

The federal government spent nearly $1.2 trillion in fiscal year 2019. In addition, income tax expenditures for health care totaled $234 billion.

https://www.taxpolicycenter.org/briefing-book/how-much-does-...

Defense:

Defense spending amounted to $714 billion in FY 2020—and is expected to increase to $733 billion in FY 2021.

https://www.gao.gov/products/gao-21-415t

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

#345

Earlier quoted context omitted.

The hospital you end up in is not a free market and usually it's not even a choice. Anyone who who gets in a car accident, falls off a roof, has a heart attack will be lucky to still be conscious when the ambulance picks them up, much less in a state of mind to be considering the relative merits.

Yet emergency care is relatively small portion of health care costs - so maybe deal with that last. It'd be hard for hospitals to make the case that emergency care is substantially more costly than similar procedures they offer.

Even for ER visits alone, it's not true that patients are "usually" incapacitated or on the verge of death. Something like a third aren't even urgent and only a small percentage are admitted to the hospital. And the most common reasons for visits are mostly pain complaints with a conscious patient. On average people get triaged to the waiting room to wait for 40 minutes or whatever.

There was a thread here a while back about something like an emergency-mode uber for replacing ambulances for most ER trips. Something similar might also be done for shopping for cheaper urgent care too perhaps. Say a clinic that is open late and will check out your scary rash/cough/pain without charging so much.

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

#346

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…

Pharmaceutical companies spend even more on advertising than on R&D and still highly profitable though.

According to one google search result total pharma ad spend was $6.58 billion in 2020.

According to the CBO pharma R&D was $83 billion in 2019.

References:

https://www.fiercepharma.com/special-report/top-10-ad-spende...

https://www.cbo.gov/publication/57126

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

#347

Earlier quoted context omitted.

If the plural of anecdote is data, when the ACA was first rolled out, someone close to me discovered they had colon cancer. They had been having symptoms for quite some time, but had been managing them with home treatment, the first day the had insurance they went to get it checked out. Lucky they did, as devastating as it was (and continues to be, turns out your chemo is brutal and having large sections of your colo…

Counterintuitive as it may be, the Oregon Experiment showed increased costs. It did show an improvement is psychological outcomes, I presume due to peace of mind, because their wasn’t a corresponding increase in psychiatric medication.

Did the increase in cost also come with an increase in outcomes? I don't think it's counterintuitive that people who couldn't afford healthcare see a doctor, you'll see a lot of issues; did we see a decrease in medical issues across the population?

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

#348

How about Big Telecom and Big Fintech and Banking? Or is it simply because the rest did not pay enough to the lobbyists?

Well, the Obama admin that included him was fully in the pocked of the bankers as revealed by Wikileaks. They chose 29 of 31 cabinet positions. Seems that not much has changed there.

https://newrepublic.com/article/137798/important-wikileaks-r...

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

#349

Earlier quoted context omitted.

There is also a third issue: The high cost of medicines that are low cost to produce, and are sold at low cost elsewhere

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…

Europe does drug R&D and still manages to sell their drugs at a reasonable price to sick people (generally because their governments utilize their buying power for the good of their citizens).

It seems to me that US people have been sold FUD by there own pharma companies, if I’m honest.

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

#350

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.

How on earth would that happen? It will just be as expensive in Europe as in the US.

You really think that nobody outside the US are making drugs? Like no drugs are ever developed in Europe??

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