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Ending the Cesspool in Pharmaceuticals by Taking Away Patent Monopolies
Baker, Dean
http://www.counterpunch.org/2023/02/10/ending-the-cesspool-in-pharmaceuticals-by-taking-away-patent-monopolies/Date Written: 2023-02-10 Publisher: Counterpunch Year Published: 2023 Resource Type: Article Cx Number: CX24842 Explores the prevalent corruption in the pharmaceutical industry, inlcuding monopolies, patents of "dubious legal status," and concealing evidence of drugs' protential harm. Abstract: - Excerpt: Outlawing items such as marijuana or alcohol invariably leads to black markets and corruption. Since there is much money to be made by selling these products in violation of the law, many people will follow the money and break the law. They will also corrupt the legal system in the process, making payments to people in law enforcement and elsewhere in the legal system. The old line from economists on this problem is to take the money out, by making marijuana and alcohol legal. If people can buy these items in a free market, then no one is going to have any big incentive to make payoffs to police officers or judges, there would be no reason. We should think the same way about the pharmaceutical industry and patent monopolies. Patent monopolies and related protections allow pharmaceutical companies to sell drugs at prices that are typically several thousand percent above their free market price. In this context, economic theory predicts they will bend or break the law to extend and expand their protection as widely as possible. Subject Headings |