Maybe I am being stupidly simple but isn’t greed an economic theory? Or st least part of it? What am I missing?
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I can’t think of any economic theory that doesn’t try to explain that phenomenon
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A more generous way of putting the congressman’s comment would be that price reducing economic forces are not able work in the pharmaceutical market due to the market structure and regulatory framework, such as lack of transparency in prices, trivial patent renewals
@EconTalker -
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I am employing a saving construction of his comment
ala Justice Roberts.
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if the congressman from Silicon Valley doesn't understand the economic theory of greed then how can he possibly represent his constituents?
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Voters want someone to blame, so politicians serve it up to them.
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That is honestly one of the most embarrassing economic policy tweets I have ever seen
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Single source, high utility, sold by incumbent owner to new capital = reassess value and price to extract monopoly rent How's that NOT economic theory
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Certainly not the disintermediation of customer and service provider.
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Economic theory of sociopathic capitalism
in the complete absence of morality, prices of medicine will inevitably rise to be so expensive that all the sick die out, leaving only healthy people behind, and then pharma goes under from a lack of business haha -
But given that we live in a society where non-business-driven masses are capable of empathy, we'll just continue to GoFundMe[dicalCare]
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