Drug mfgrs being sued - Page 3 - Graybeard Outdoors
Reply
 
LinkBack Thread Tools
post #21 of 23 (permalink) Old 05-17-2019, 06:26 PM
TM7
Senior Member
 
Join Date: Aug 2004
Location: NorthEast of a Parallel Universe
Posts: 24,562
Default

I see there's a sea change here at GBO on this topic. A few years ago whenever I ranted on Big Pharma and corporatism, the response was usually in defense of Big Pharma and corporatism in general.

The facts are Big Pharma, corporations, and the people running these entities are not infallible _ _ they're highly FALLIBLE.

Here's what Facebook co-founder, Chris Hughes, said about corporate fallibility in recent NYTimes article: -->

America was built on the idea that power should not be concentrated in any one person, because we are all fallible. That’s why the founders created a system of checks and balances. They didn’t need to foresee the rise of Facebook to understand the threat that gargantuan companies would pose to democracy. Jefferson and Madison were voracious readers of Adam Smith, who believed that monopolies prevent the competition that spurs innovation and leads to economic growth.

A century later, in response to the rise of the oil, railroad and banking trusts of the Gilded Age, the Ohio Republican John Sherman said on the floor of Congress: “If we will not endure a king as a political power, we should not endure a king over the production, transportation and sale of any of the necessities of life. If we would not submit to an emperor, we should not submit to an autocrat of trade with power to prevent competition and to fix the price of any commodity.” The Sherman Antitrust Act of 1890 outlawed monopolies. More legislation followed in the 20th century, creating legal and regulatory structures to promote competition and hold the biggest companies accountable. The Department of Justice broke up monopolies like Standard Oil and AT&T.

For many people today, it’s hard to imagine government doing much of anything right, let alone breaking up a company like Facebook. This isn’t by coincidence.


Starting in the 1970s, a small but dedicated group of economists, lawyers and policymakers sowed the seeds of our cynicism. Over the next 40 years, they financed a network of think tanks, journals, social clubs, academic centers and media outlets to teach an emerging generation that private interests should take precedence over public ones. Their gospel was simple: “Free” markets are dynamic and productive, while government is bureaucratic and ineffective. By the mid-1980s, they had largely managed to relegate energetic antitrust enforcement to the history books.

This shift, combined with business-friendly tax and regulatory policy, ushered in a period of mergers and acquisitions that created megacorporations. In the past 20 years, more than 75 percent of American industries, from airlines to pharmaceuticals, have experienced increased concentration, and the average size of public companies has tripled. The results are a decline in entrepreneurship, stalled productivity growth, and higher prices.

Since the 1970s, courts have become increasingly hesitant to break up companies or block mergers unless consumers are paying inflated prices that would be lower in a competitive market. But a narrow reliance on whether or not consumers have experienced price gouging fails to take into account the full cost of market domination. It doesn’t recognize that we also want markets to be competitive to encourage innovation and to hold power in check. And it is out of step with the history of antitrust law. Two of the last major antitrust suits, against AT&T and IBM in the 1980s, were grounded in the argument that they had used their size to stifle innovation and competition.

Adam Smith was right: Competition spurs growth and innovation.


IF WE DON’T HAVE PUBLIC SERVANTS SHAPING THESE POLICIES, CORPORATIONS WILL.
TM7 is offline  
Sponsored Links
Advertisement
 
post #22 of 23 (permalink) Old 05-18-2019, 07:31 AM
TM7
Senior Member
 
Join Date: Aug 2004
Location: NorthEast of a Parallel Universe
Posts: 24,562
Default

Here's a video of AOC actually doing something erstwhile as she takes on the Regulatory-Industrial Complex -->

https://governmentslaves.news/2019/0...-in-australia/

.
.TM7
TM7 is offline  
post #23 of 23 (permalink) Old 05-19-2019, 05:47 PM Thread Starter
Senior Member
 
ironglow's Avatar
 
Join Date: Feb 2004
Location: rural southwestern N.Y. State
Posts: 40,575
Default

Quote:
Originally Posted by TM7 View Post
Here's a video of AOC actually doing something erstwhile as she takes on the Regulatory-Industrial Complex -->

https://governmentslaves.news/2019/0...-in-australia/

.
.TM7
She is not alone, thousands of Americans are asking the same question. Perhaps AOC is one congress person who is not yet on the take from big pharma..

.

"Politically correct" language, is really Orwellian 'newspeak'. (Michael Cutler)
.
ironglow is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Graybeard Outdoors forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome