Defenders of capitalism as we have it will say that such practices as price fixing for drugs that are critical to the health and welfare of human beings, are the exception rather than the rule. Whatever! The profit motive, the need to make big profits for stock holders, is incentive for companies to do things that are not in the public interest, that do great harm in in too many cases.
“It is not the fault of capitalism but some bad capitalists.” Bullshit! Anyone with eyes half open knows that it is capitalism that causes “bad capitalists” because success at being adequately bad to turn the big profits is what makes a good capitalist. The examples here are but two of so very many that one has to be living in an alternative universe to see that the market is a problematic entity to hold sway over the decision making processes that produces policies that should serve the common good.
The horrendous lie that the market exists for the good, for the betterment of society, needs examination as does the thinking of those constantly hurt by it who still believe in it.
Mylan, 17 other generic drugmakers conspired to fix prices, state AGs allege
And, in our local paper today, the Reno Gazette-Journal, this:
NEW JERSEY SUES OXYCONTIN MAKER
New Jersey filed a lawsuit Tuesday against the company that manufactures OxyContin, claiming a “direct link” between the state’s opioid crisis and the firm’s deceptive marketing practices. State Attorney General Christopher Porrino says the fivecount lawsuit against Connecticutbased Purdue Pharma and two of its entities seeks undisclosed monetary damages for fraud and false claims.
One reply on “Good capitalism is highly deceptive”
The fact that some are so wealthy and some so poor is clear evidence that the wealthy could have and should have been more fair in paying the price of labor and pricing their products.