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If you think this is "Economics" then you have no clue about a real market.
I'm gonna steal Eok's definition. This is "American Capitalism". Not a free market.
This is absolutely "Economics" and it is a real market. That you don't understand that makes it pretty clear who has no clue. Is it perfect competition, or a completely free market? No. But I never claimed that it was.
What you posted doesn't change anything that I said.
And likewise.
My points still stand.
1st theory and reality are different.
Reality won out over his (and maybe your) theory of controlling the markets. Media pressure and pressure from other in his industry made him fold. A boycott or other social/political pressure put on his company because of this blatant display of greed could ultimately sink his company.
Bad business move. Econ is a SOCIAL science. It's not all numbers.
2nd, his business model wasn't based around the "market." He holds a monopoly, which is illegal in most industries, and due to being able to hold that monopoly he priced gouged, which means it moved way above "market value."
True market value, in this case, would have to due with those who need the pill being able to afford it. A 'natural' equilibrium, or true equilibrium can't be met because supply and price are controlled due to the monopoly.
That's why in most industries we don't allow monopolies.
Reality won out over his (and maybe your) theory of controlling the markets. Media pressure and pressure from other in his industry made him fold. A boycott or other social/political pressure put on his company because of this blatant display of greed could ultimately sink his company.
Perhaps you have misunderstood my position. I have been consistently for a market driven solution, rather than a government mandated solution. It appears that this is happening, and I couldn't be happier. I have never been for "letting HIV patients die." Rather, I have been for a market driven solution to the problem. There is a BIG difference.
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Bad business move. Econ is a SOCIAL science. It's not all numbers.
No disagreement from me.
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2nd, his business model wasn't based around the "market." He holds a monopoly, which is illegal in most industries, and due to being able to hold that monopoly he priced gouged, which means it moved way above "market value."
Patent protection is a longstanding tradition in the United States. Operating as a monopoly is illegal. Operating with patent protection isn't. If you believe that the patent system is wrong, the appropriate course of action would be to work towards changing or abolishing the patent system.
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True market value, in this case, would have to due with those who need the pill being able to afford it. A 'natural' equilibrium, or true equilibrium can't be met because supply and price are controlled due to the monopoly.
Sorry, but that isn't market value. Market value is determined by a willing seller and a willing buyer. In the case in question, there are lots of willing buyers at $15/pill, but no willing sellers.
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That's why in most industries we don't allow monopolies.
We do allow patent protections in most industries. There is a difference.
No country is as violent as the United States, as Martin L King stated "The greatest purveyor of violence in the world today: my own Government...I cannot be silent."
Would it be reasonable to assume that you will spend none of your own money so that people can get this medication at a price that you deem acceptable?
I thought so. You just want others to spend their money. Talk about vile. . .
Actually I do help raise money for medicines and medical supplies for a local clinic located in a church basement.
You call it whining. I call it talking about my position on a topic.
Sorry, I didn't communicate clearly. My "whiners" comment was directed at those who do nothing meaningful, and just complain. Based on the information that you provided, I don't see see you as a member of that group.
The pill costs 50 cents in India. If we really had a free market we would be allowed to buy it from India.
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Is it perfect competition, or a completely free market? No. But I never claimed that it was.
