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RE: Good Intentions + Politics = Evil Crap

in #anarchism8 years ago

Where there is a market, there is someone in waiting to work those things out in a manner they can sell to the public efficiently, especially if they have a ready source of competitors looking to innovate.

I like to draw the example of Pharma Bro when it comes to the market vs. government intervention. When dude bought the "AIDS" drug, there was a big stink over him increasing the cost of the drug exponentially.

The likes of Bernie Sanders couldn't wait to politicize the issue and demand government intervention. What happened instead is something I predicted: the market responded in a manner more efficiently than any bureaucracy ever could without punishing anyone but Pharmo Bro.

That is, a competitor started producing a generic of the same product and offered it for cheaper than the original price before the hike. That same quarter his company posted about a $14M loss. Such is the beauty of free competition.