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RE: What is rent seeking?

in #corporatism7 years ago

While I would agree that most drug companies adopt the rent-seeking strategy by getting their patients addicted (opioid drugs) or requiring continual treatment (symptom treating instead of curing), I don't agree with you on vaccines. I think this is profit-seeking behaviour because in vaccinating whole populations the population becomes less sick and therefore more productive. You could argue that the cost of the vaccination pale in comparison to the offset losses in productivity. Taking HPV as an example, vaccinations lower the odds of developing cancer which is very expensive to treat. https://www.sciencealert.com/the-hpv-vaccine-has-halved-cervical-cancer-rates-in-the-past-10-years

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I don't take a stand for or against vaccines, but if you want to argue that pharmaceutical companies are engaged in profit-seeking behavior, then you must point to their efforts in the free market and their attempts to market and sell their product without government protections, mandates, recommendations, subsidies, or revolving-door employees. I see no evidence of that occurring with any Big PhRMA vaccine-producing corporations.

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