Re:Biohackers take aim at big pharma’s stranglehold on insulin
by chiefalchemist on Monday June 28, 2021 @05:01PM
(#27668067)
> This is (mostly likely) a rent-seeking situation where a few providers who are allowed in the market are milking it for all the profit they can.
That is also known as demand. They do because they can.
Re:Biohackers take aim at big pharma’s stranglehold on insulin
by skohan on Tuesday June 29, 2021 @02:37AM
(#27672586)
Many of your comments reflect a misunderstanding of basic economics
Re:Biohackers take aim at big pharma’s stranglehold on insulin
by chiefalchemist on Wednesday June 30, 2021 @07:21AM
(#27687217)
I'm the downvotee. I think they understand economics. Who doesn't? What they refuse to admit is:
1) Healthcare is a limited resource, like anything else.
2) Prevention, which few if any "leaders" highlight, is a viable alternative to healthcare price increases.
Are there there some nefarious undercurrents? Yes, of course. But to blame all our ills - and remove diet, lifestyle, etc. - on ever increasing demand only makes the current system stronger. People who believe they have no control aren't part of the solution.
Insulin is made in massive facilities in large batch runs. Making 5X to 10X is basically cost of materials, which haven't really increased enough to justify the price increase.
This is (mostly likely) a rent-seeking situation where a few providers who are allowed in the market are milking it for all the profit they can.