Milton Friedman on Libertarianism (Part 2 of 4)

How is that a problem? The CEO isn't inventing the drug....
The corporation has to pay the CEO that much money to entice them to work there. What is your point?

Libertarian Socialism is the future

One problem about the pharmaceutical companies:

The executives can announce a drug and release it, causing the share price to go way up. When that happens, their options appreciate in value and they collect millions. Then,if the drug is bad, the company gets sued, but the lawsuit might not get finished until the CEO has reached retirement age and left the company.

So what? What is the alternative? Government control? How is that better? The stock market punishes companies that do that behavior, as it is supposto do. It does that role better than government.

The alternative I was referring to was not "government control," but rather the current system by which drug manufacturers must have a clinical trial showing their drug to be effective before they can receive FDA approval.

If you know that a drug is harming people, would you CHOOSE to take it?

take a look at social security. u say it's helped millions. but is that so? or has it helped say 5% of the population at the expense of taxing (forcefully taking) money from 100% of the nation. on that note, is social security efficient? or is it jus a massive ponzi scheme where ppl at the top benefit from ppl on the bottom entering it and paying it? who is helped? who is hurt? most importantly, could it b better w/o gov't?

Milton Friedman almost sounds like a socialist...almost. not quite.

you clearly have no idea what a socialist it.

Look at history. A company can not hold power without the consent of the people - unless there is govt involvement. Why would it be in the interest of companies to have high cost for prescription drugs? No one could afford them. But when the govt mandates insurers to cover them, prices go up because someone else is picking up the tab.

Look at the causes, not the symptoms. Govt involvement causes problems. How can expanding the cause of the problems be a solution? Mask it maybe...but not fix it