I think a reasonable argument can be made that the current rules provide a little too much insulation from competition for too long.
But that doesn't mean the world should just abandon the concepts and create a free for all as that would just lead to a huge set of other problems.
Your shtick on this was boring years ago. Add something of value, like some insights into potential improvements instead of just frothing at the mouth statements that amount to: 'bad, bad, bad'.
I will troll an example that I think is broken. I think drug companies receive too much protection for too long, especially in the US. The basic tradeoff as I see it:
Companies will argue that bringing new drugs to market is very expensive. I will argue that 50% of that cost is marketing and sales, not R&D, which can be seen in the financial statements of US drug companies. This reflects the general insanity of not having single buyers and keeping the system private.
Second, the practical effects of new drugs on society is much less than the effect of all existing drugs on society. This is because lifespans are quite long, modern medicine is highly effective, and most new drugs are aimed at edge cases affecting very small numbers of the population. On the latter, this is shown in extraordinary large costs for new drugs aimed at ultra rare conditions.
The tradeoff then becomes extraordinary costs for extremely rare conditions, which if eliminated/reduced, will lead to very poor quality of life (or death), for a very small number of people vs accessibility/affordability for far more drugs by far more people leading to better quality of life (or avoiding early death) for them.
Personally, I feel that the US drug policies sacrifice the majority for the sake of the drug companies, which is feebly justified by the drug companies on the grounds of cost for R&D related to new drugs. I like to point out that 50% of their cost is sales and marketing to begin with, which is driven by the brand protection they receive in the first place in an asymmetric medical information market...ie: not a free market.
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