Full Article
From a fellow capitalist:
This part is my biggest fear –
“The recent slow-down in the introduction of new blockbuster drugs is in part the delayed result of underinvestment in the 1990s -- the last time the political class toyed with national health insurance.
…The U.S. is the last major pharmaceutical market without universal price controls, and as such has been the world's main financier of new drug discoveries. In a world of government-run and -priced health care, biotech innovation will also be as much at risk as traditional drug development. The biggest price we may pay for a health-care system run from Washington are the therapies we never get as a result.”
Every decision we make in life is some sort of a Risk / Reward decision. People and businesses only take large risks if there is a huge upside. If you limit the upside, you limit the risks people are willing to take. Why would a drug company spend billions to try and stymie cancer when the upside is the same as if they spend 1/100 of the amount on fighting seasonal allergies. You’re right….they won’t…unless they are socialized (or nationalized if you prefer that name).
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