socialistexan:djpain619:thes-hitoverlord:PBF Comics PerryFellowThis is why competition is so importa
socialistexan:djpain619:thes-hitoverlord:PBF Comics PerryFellowThis is why competition is so important to capitalism. If someone else could manufacture insulin for the same price and charge like $15 bucks a vial they would undercut these greedy fucking corporations, supply people with a vastly more affordable option for their life saving medication, and make fucking gangbusters while doing it!You do realize there already is competition in the production of insulin, right? Eli Lily, Novo, and Sanofi all produce insulin, all of them charge about the same, but only in the US where the government doesn’t have any form of price controls. The same drugs are available for pennies in Canada, Europe, Asia, ect. All three of those companies lobbied Congress so that generics of insulin could not be made. The only biosimilar products are only 10-15% cheaper and also made by those same three companies. You saying they should charge $15 is still a 300% mark-up which is still greedy and profiting off of the sick and suffering. Insulin is just another example of a medication developed either by the US government whose patent is just given to a private corpation for nothing so that corporation can then make billions in profit without any of the overhead. The taxpayers take the risk, the capitalists take the profit and don’t pay any of it back. Removing the profit motive is what reduces the prices, not competition. The market has already tolerated price fixing, 5000% mark-ups, and private rationing of care therefore it is ludicrous to assert that the market will fix the market’s problems. -- source link