(no subject)
Jun. 7th, 2024 08:01 pmListening to my brother talk about his work, and this shit is ridiculous. Xyrem (narcolepsy medicine) was already kind of a silly patent, because it’s the “aqueous solution” of a drug that’s been known since the 1960s. When the patent ran out, the original patent-owners patented their risk management program, so anyone who tried to compete would violate patent if they had the FDA-required “comparable risk management program.” When that was overturned, they kept changing their risk management program over and over so no could make a program comparable to it, until the FDA essentially told them to fuck off. They patented using a lower dose of Xyrem in conjunction with an anti-seizure drug. (Not a specific dose, just a lower dose.) This is just a subset of the shit they pulled! And when all else failed, they price-fixed with an “authorized generic,” which is what my brother’s firm is suing over. It should have been possible to get a cheap generic of Xyrem by 2017, and at the current rate, that won’t be possible until 2025.
(no subject)
Jun. 3rd, 2024 01:42 pmArticle in The Atlantic. Decades ago, an economist named James Buchanan said bureaucrats act to preserve their jobs, not to solve problems. Poverty assistance, for instance, would never actually lift people out of poverty, because then it wouldn’t be needed.
Reagan listened, and he handed over poverty assistance to businesses. Now businesses don’t lift people out of poverty, preserving their own jobs.
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(no subject)
Jan. 16th, 2024 06:34 pmThe idea of predators and prey unintentionally benefiting each other for selfish reasons is a lot like the idea of customers and corporations benefiting each other for selfish reasons.
People who come across this idea usually use it as an argument for why this model of economics is right. Personally, I think this is an argument for why this model of nature is wrong. Indirect benefit to other prey doesn’t matter to the prey who get eaten, and indirect benefit to wealthier customers doesn’t matter to poor people.
People who come across this idea usually use it as an argument for why this model of economics is right. Personally, I think this is an argument for why this model of nature is wrong. Indirect benefit to other prey doesn’t matter to the prey who get eaten, and indirect benefit to wealthier customers doesn’t matter to poor people.
(no subject)
Sep. 22nd, 2023 12:18 amNot long ago, the big discourse was about companies that want you to become a lifetime consumer. Now the big discourse is about companies that want to squeeze out every cent immediately, then discard the husk and squeeze something else. These are separate strategies, but the latter kind of company keeps buying out the former type of company. Does the potential for buyout affect the strategy of the former type of company, and in what direction?
In Font of Fertility, the great mages have millennia of stockpiled magic, but they don’t seem to do much with it. They just bicker back and forth and accomplish nothing, and one of them admits their entire job is pointless.
Which makes sense, if you think about it. A lot of them seem to hate each other, and their relative power levels keep the young ones from destroying the old ones. If one of them spent centuries of magic, it would take centuries to get it back, and they’d be vulnerable all the while. They act strong because of the implication that they might someday use their stockpile, even though they can’t touch it, and they race to gather more and more power just to stay in the same relative place.
In other words, they’re rich investors.
Which makes sense, if you think about it. A lot of them seem to hate each other, and their relative power levels keep the young ones from destroying the old ones. If one of them spent centuries of magic, it would take centuries to get it back, and they’d be vulnerable all the while. They act strong because of the implication that they might someday use their stockpile, even though they can’t touch it, and they race to gather more and more power just to stay in the same relative place.
In other words, they’re rich investors.
(no subject)
Aug. 9th, 2023 03:23 amhttps://pluralistic.net/2023/08/08/vampire-capitalism/
“Think of healthcare. Consolidation in pharma lead to price-gouging, where hospitals were suddenly paying 1,000% more for routine drugs. Hospitals formed regional monopolies and boycotted pharma companies unless they lowered their prices – and then turned around and screwed insurers, jacking up the price of care. Health insurers gobbled each other up in an orgy of mergers and fought the hospitals.
“Now the health care system is composed of a series of gigantic, abusive monopolists – pharma, hospitals, medical equipment, pharmacy benefit managers, insurers – and they all conspire to wreck the lives of only two parts of the system who can't fight back: patients and health care workers. Patients pay more for worse care, and medical workers get paid less for worse working conditions.”
“Think of healthcare. Consolidation in pharma lead to price-gouging, where hospitals were suddenly paying 1,000% more for routine drugs. Hospitals formed regional monopolies and boycotted pharma companies unless they lowered their prices – and then turned around and screwed insurers, jacking up the price of care. Health insurers gobbled each other up in an orgy of mergers and fought the hospitals.
“Now the health care system is composed of a series of gigantic, abusive monopolists – pharma, hospitals, medical equipment, pharmacy benefit managers, insurers – and they all conspire to wreck the lives of only two parts of the system who can't fight back: patients and health care workers. Patients pay more for worse care, and medical workers get paid less for worse working conditions.”
(no subject)
Jul. 10th, 2023 03:41 amPeople say it’s bad for rich people to hoard their wealth and not buy things, but then they talk about times where rich people make someone else pay for things. This is an important distinction, because it would be good for rich people to acquire fewer things. If less of the economy is devoted to building yachts, that frees up more labor for things that poorer people might use.
The idea that spending more money on something means you want it more seems to imply rich people are utility monsters. I mean, if there’s only enough food for one person, a rich person will spend more money to acquire that food than a poor person would be capable of spending. If there’s only one available house, the rich person will outbid the poor person on that house. Any good you posit, the rich person will “want” it more, so you’re effectively assuming that rich people have deep and boundless desires and poor people have no real desires at all.
(no subject)
Nov. 10th, 2022 09:08 amIn college, I studied Business Management Economics. The name’s a bit misleading, because it’s not really for business managers. It’s for folks who have to talk to business managers. Given the assumption that your audience has no economic knowledge, how do you explain economics to them in a way they’ll understand?
I get why philosophers are so tetchy about the value of philosophy degrees. But if you want philosophy to be relevant to how people in general live their lives, not just how philosophers live their lives, you need to teach yourself a sort of Business Management Philosophy.
I get why philosophers are so tetchy about the value of philosophy degrees. But if you want philosophy to be relevant to how people in general live their lives, not just how philosophers live their lives, you need to teach yourself a sort of Business Management Philosophy.
(no subject)
Sep. 8th, 2022 01:21 amI do think economics is a science; I just think a lot of people are wrong about it. It’s like medicine, if medicine still had practitioners who believed in the four humors and wrote prescriptions accordingly. There are things you can do to treat a diseased body, and I think there are things you can do to treat a diseased economy.
(no subject)
Jul. 13th, 2022 04:02 amAnother analogy nobody will be happy with. Some people look at the competition between individuals to make as much money as possible, and they see that as combining into an “invisible hand,” which they then anthropomorphize as something that wants a stable market. Other people look at the competition between individuals to pass on as many genes as possible, and they see that as combining into a “natural order,” which they anthropomorphize as something that wants a stable ecosystem. Both groups are making the same mistake.
(no subject)
Jun. 30th, 2022 11:46 amPissed off some more people by making this argument, so I’ll make it again for good measure: if you don’t read or buy someone’s book, you are doing exactly the same amount of harm as if you pirated someone’s book. Since you don’t buy every book, you are always doing that amount of harm to everyone whose book you didn’t buy. Furthermore, the same issue applies to people who didn’t write a book, but still need money to survive, which is why this isn’t an issue that can be fixed through capitalist consumption alone. Someone who doesn’t have your money doesn’t benefit from your money. Somehow, people keep interpreting this as me saying that authors should starve, when my point is that people are already starving whether they’re authors or not.
Actually, as long as I’m frustrated, I’ll repost the other argument that got a ton of people to block me. People argued for abortion based on bodily autonomy. I thought about anti-vaxxers and their bodily autonomy arguments, and I decided anti-vaxxers are full of shit. This isn’t even an argument against abortion! I’m just saying I can’t reasonably claim bodily autonomy as the defense I’m using for abortion.
It’s frustrating how many of the people I reblog from also reblog from people who have me blocked and will presumably keep me blocked until the end of Tumblr. But at the same time, if I didn’t use anonymous Internet accounts to argue things I think are true, I would never argue them anywhere. I think about all the arguments people made to change my mind, and they just don’t seem very convincing to me.
Actually, as long as I’m frustrated, I’ll repost the other argument that got a ton of people to block me. People argued for abortion based on bodily autonomy. I thought about anti-vaxxers and their bodily autonomy arguments, and I decided anti-vaxxers are full of shit. This isn’t even an argument against abortion! I’m just saying I can’t reasonably claim bodily autonomy as the defense I’m using for abortion.
It’s frustrating how many of the people I reblog from also reblog from people who have me blocked and will presumably keep me blocked until the end of Tumblr. But at the same time, if I didn’t use anonymous Internet accounts to argue things I think are true, I would never argue them anywhere. I think about all the arguments people made to change my mind, and they just don’t seem very convincing to me.
(no subject)
Jun. 27th, 2022 03:04 amThinking about how the housing crisis works, because you can’t spend a house. You can borrow money against a house, but at least theoretically, you have to pay it back eventually. So let’s say all these rich people are buying houses as investments, and they plan to sell the houses at a higher value later. Meanwhile, the rest of us can’t afford houses. So at some point, someone has to wake up and realize that the houses are only “worth” what people will actually spend on them, right? Like when NFT investors couldn’t get anyone else to buy their stupid-looking apes, and the bottom dropped out of the market.
But the government wasn’t actively trying to prop up apes, and I’ve been told homeowners support politicians who try to make homes more valuable. So how much power do politicians actually have to distort the market like that?
But the government wasn’t actively trying to prop up apes, and I’ve been told homeowners support politicians who try to make homes more valuable. So how much power do politicians actually have to distort the market like that?
Inspired by another NFT failure
Apr. 14th, 2022 04:55 amMoney can be exchanged for goods and services, but not everything can be exchanged for money. If you give someone your money for something you expect to go up in value, they now have money they can exchange for goods and services, and you do not.
True, it’s possible you’ll be able to exchange the thing for money. It’s also possible nobody will want it and you’d have achieved the same thing by buying a shiny rock. At the very least, one person thought it was time to get rid of the damn thing and take your money instead.
(Of course, if your country’s currency craters so badly that nobody wants it, you might be better off with goods that can be exchanged for some other country’s currency.)
True, it’s possible you’ll be able to exchange the thing for money. It’s also possible nobody will want it and you’d have achieved the same thing by buying a shiny rock. At the very least, one person thought it was time to get rid of the damn thing and take your money instead.
(Of course, if your country’s currency craters so badly that nobody wants it, you might be better off with goods that can be exchanged for some other country’s currency.)