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

Post by tigerBL00D » Mon, Jul 12, 2021, 8:39 AM UTC

AnthonyMouse wrote: post #301

hyperhopper wrote: post #293

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…

Post by simonh » Mon, Jul 12, 2021, 8:41 AM UTC

JumpCrisscross wrote: post #361

andyferris wrote: post #349

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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.

> Europe does drug R&D and still manages to sell their drugs at a reasonable price to sick people Most novel R&D, in America and Europe, happens in biotech. (“Big” pharma does trials, manufacturing scaling and distribution.) The investment thesis for most of this research does not work without the American market. This doesn’t mean high drug prices are a necessity. Just that the funding needs to be replaced if we wan…

Post by [deleted] » Mon, Jul 12, 2021, 8:46 AM UTC

bryanrasmussen wrote: post #344

l33t2328 wrote: post #337

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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. http…

Post by din-9 » Mon, Jul 12, 2021, 8:52 AM UTC

chii wrote: post #401

anthony_barker wrote: post #378

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I would argue Big Pharma free rides its self on research from universities around the world which are mostly publicly funded and not for profit. The US represents less than 34% of global research. https://pubmed.ncbi.nlm.nih.gov/17354441/

> The US represents less than 34% of global research and yet, the US has about 5% of the world's population. So proportionally, they are punching way above their weight.

Post by kelnos » Mon, Jul 12, 2021, 9:16 AM UTC

cycomanic wrote: post #375

benrbray wrote: post #355

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I think the idea is that the doctor is actively intervening in your medical treatment, so they have a responsibility to make sure they're getting it right. This person is free to stop taking their meds and die alone whenever they like. Visits to the doctor should be cheaper and more efficient, but people shouldn't stop going to the doctor.

I find it fascinating that the HN crowd complains about doctors being too expensive. I mean what is the comparative value that software developers add to society compared to doctors that justify their salaries (which are often on the same level or higher)?