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Originally Posted by jfman
Can you translate that into English and more importantly explain why people needlessly die due to the cost of medical care? Either that not provided by the NHS or failed insurance based mldekd elsewhere.
Monopolies don’t keep costs down to the consumer. Don’t they teach capitalists basic economics?
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If 3 firms have to EACH build 3 plants giving a total of 9 plants, but only one for each of the 3 drugs is needed because of the level of demand, then the cost and resources used to build that total of 6 unnecessary plants has to be recovered by higher prices. There can be drugs where the demand can be increased, but for the most part demand cannot be increased.
A comparison is where thousands of developers all independently decided there was a huge untapped demand for housing, and massively overproduced new housing leaving a lot of it empty and UNPAID for. That in turn hit the banks who didn't get their money back, and guess what happened?
Ireland
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A decade after the crash, Shannon Valley housing estate, on the outskirts of Ballaghaderreen, in Co Roscommon, remains unfinished and partly in ruins. Although the number of “unfinished housing developments” has fallen sharply since 2010, Shannon Valley is one of hundreds that still dot the country.
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Spain
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Between 2000 and 2008, around five million homes were built in Spain as developers looked to take advantage of cheap credit and regulatory incentives provided by the government.
But as the US subprime mortgage catastrophe unravelled and economies everywhere shuddered, Spain’s housing market collapsed while the world entered a global financial crisis.
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From Washington Journal of Environmental Law & Policy(PDF)
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ABSTRACT: This article addresses the phenomenon of abandoned or failed
commercial or residential developments, sometimes referred to as “zombie
subdivisions” in America, and “ghost developments” in Europe. Both arose as a
result of the real estate market disintegration after 2008. Around the world, but
particularly in America and in certain European countries, developers ran out of
funds and were unable to finish their projects, resulting in non-completed or
largely vacant “zombie” or ghost properties. Such abandoned properties can be
found throughout America and Europe, but they are more common in particular
Intermountain states in the United States, and in Ireland, Spain and Portugal.
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