Re:Berkshire Hathaway Code of Business Conduct and Ethics [pdf]
by forgotmysn on Monday May 08, 2017 @03:46PM
(#14294911)
they didn't increase efficiency at all, they just increase the amount they were able to squeeze out of the IP. thats not an efficiency vs inefficiency, its n vs n+1.
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Re:Berkshire Hathaway Code of Business Conduct and Ethics [pdf]
by johncip on Monday May 08, 2017 @09:05PM
(#14296963)
I think you could make a case that charging the highest price for something that the market will bear corrects an inefficiency in the market.
http://www.investopedia.com/terms/i/inefficientmarket.asp
It's not that they started producing more units, it's that some folks (the ones using the drugs) were taking advantage of a market inefficiency (the insufficiently low price) which when corrected, meant greater returns for Shkreli et al.
Just as when a "retail" day trader hits on a system that enables them to make a large amount of money, they're taking advantage of an inefficiency, and, in a way, helping to correct it.
It's not pretty, but being ugly doesn't make it inaccurate.
Re:Berkshire Hathaway Code of Business Conduct and Ethics [pdf]
by forgotmysn on Friday May 12, 2017 @02:45PM
(#14326693)
but we're talking about a monopoly. a market inefficiency only occurs if there is competition, a more efficient alternative.