Social conservatives are encouraged — and fleeced — at every turn to support the magic of the free market. Let’s peek into the magicians’ black hat and see what’s really in there:
NYT – It would seem a business executive’s dream: legally pay a competitor to keep its product off the market for years. … In the case of Cipro, a powerful antibiotic with annual sales exceeding $1 billion, Bayer paid $400 million to a generic drug maker, Barr Laboratories, and other companies. In exchange, the generic makers said they would withhold their own lower-priced generic versions of the drug until 2003, when Bayer’s patent on the brand-name drug expired.
Hey, the efficient free market based on infinitely elastic supply and demand is ‘only a theory.’ But this is the antithesis of a free market, let alone an efficient one. This shit costs We the People money, individually and collectively:
Last year, the Congressional Budget Office estimated that a Senate bill to outlaw such payments would save the federal government $4.8 billion over 10 years and would lower drug costs in the United States by $11 billion. The legislation remains stalled in the Senate. The federal government is a major buyer of drugs through Medicare and the Department of Veterans Affairs.
Support the troops! Small business! And won’t someone please think of the children? Because they all deserve the very, very
best most profitable products … that the wealthiest global corporations can bribe and price fix to the top of the consumer heap and lock into their grotesquely swollen bottom lines.
Remember this, because it’s not an abberation. Tilting the paying field in favor of the established rich at the expense of small businesses, tax payers, along with fair competition and brlliant innovation, is not a bug, this a feature of modern day conservative policy. The conservative CEO class has looted the nation for three decades under that policy. With President Mitt Romney they can dream of one more big score, but they can absolutely count on one of their own to help pull up the ladder and give them and their spoils safe passage to the gleaming offshore paradises that awai, when the jig is finally up.