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by tomohawk
1313 days ago
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Any time there are price controls, there is scarcity. That is, unless the price controls are subsidized in some way like in the situation we're talking about. I like the innovative drugs that are being made, so I'm not in favor of price controls. If you think drugs are too expensive, then do something about it. Create some useful drugs and sell them for a cheaper price. |
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That's not true. It would be the case for (close to) perfectly competitive markets with lower margins, like petrol, basic foodstuffs to some extent etc. It does not apply to markets controlled by oligopolies/monopolies. Especially pharmaceuticals where margins are extremely high and producers of some drugs would still be able to make a profit if they cut (list) prices by a magnitude or two.
Only argument against is that it might decrease available funding for developing new drugs, which might be a legitimate concern. But in no way would reasonable prices controls result in a scarcity of almost all currently available drugs.