Monday, September 24, 2012

How Big Pharma’s Business Plans Embrace Criminal Wrongdoing To Achieve Greater Sales And Profits

This sounds a lot like Wall Street.  But, then that has been discussed on here numerous times.  This is not a financial crisis.   This is a crisis of the contradictions of deregulated capitalism coming home to roost.   All industries have some degree of the dynamic discussed in the linked to article.   There are some levels of fines that oligopoly/monopoly corporations expect to pay when found guilty of wrongdoing.  But, customers and society pay for those fines through a higher cost of products and services to customers and society.  (socializing losses)  But, in the end this strategy pays great benefits because the end results are greater levels of privatized looting.   In other words, corporate bureaucrats are mooching on society.  Oftentimes corporate products don’t even benefit society aka Monsanto.    In the case of Wall Street, an example of this might be derivatives,  commodities market manipulation, investment banking, mergers & acquisitions, etc. that serves no useful purpose to society.  In the case of pharma it is the overmedication of society and the long term health consequences.  That includes drugs that show marginal, if any, long term benefits. 

Title link here.

posted by TimingLogic at 11:33 AM