Company hikes price 5,000% for drug that fights complication of AIDS, cancer

[M14 Shooter]

All of this demonstrates the beauty of the free market.
Not at all sure why some people immediately call for government action in a case like this.

Because it is price gouging.

Not according to the legal definition of price gouging, which consistently relates to profiteering through scarcity caused by a natural disaster.

Well in this case it is scarcity via government disaster, as the medicine in question is working under a government imposed monopoly.

Nice try, but.... no.

As I understand it it is a monopoly drug. What do you mean 'no?'

Your argument for price gouging.
There's no disaster involved, and so claims of price gouging cannot soundly apply.

 

[M14 Shooter]

Yes.
My right to pursue happiness - that is, to own property and sell it at whatever price I choose- is protected the law, as intended.
Not sure how any of this is supposed to support an argument to the contrary.

Nice to see, however, someone posting in support of the idea that our rights come from The Creator, and not the state.

'The pursuit of happiness' encompasses more than just the ability to sell and buy property, and there is nothing that says conditions and regulations might not be applied to any such buying and selling. An unregulated market is not a free market, but is a rigged market.

Nothing here negates the fact that my right to pursue happiness - that is, to own property and sell it at whatever price I choose- is protected the law, as intended.

Yes, it is, within reasonable bounds.
You do not have the right, for example, to sell your own body parts. You do not have the right to sell unregulated drugs at public schools, etc.
This isn't all that hard to grasp, right?

Now, lets compare apples to apples...
i do have the right to sell the book I wrote at whatever price I want,
I do have the right to sell the furniture I built at whatever price I want.
I do have the right to sell the i-phone app I wrote at whatever price I want.
I do have the right to sell the house I bought at whatever price i want.
I do have the right to sell the car I restored at whatever price i want,
This isn't all that hard to grasp, right?

If you were the only allowed maker of a critically needed drug and you decided to hike the price of that drug 5000%, you are engaging in price gouging which is an abuse of a monopoly position in the market.
This isn't that hard to grasp dude. If you cant see the point then you are in serious need of some counseling.

Translation:
You cannot soundly counter the point made here.

 

[JimBowie1958]

Because it is price gouging.

Not according to the legal definition of price gouging, which consistently relates to profiteering through scarcity caused by a natural disaster.

Well in this case it is scarcity via government disaster, as the medicine in question is working under a government imposed monopoly.

Nice try, but.... no.

As I understand it it is a monopoly drug. What do you mean 'no?'

Your argument for price gouging.
There's no disaster involved, and so claims of price gouging cannot soundly apply.

There is a shortage created by a government imposed monopoly, so the seller has no right to set the price at whatever he wants.

 

[JimBowie1958]

'The pursuit of happiness' encompasses more than just the ability to sell and buy property, and there is nothing that says conditions and regulations might not be applied to any such buying and selling. An unregulated market is not a free market, but is a rigged market.

Nothing here negates the fact that my right to pursue happiness - that is, to own property and sell it at whatever price I choose- is protected the law, as intended.

Yes, it is, within reasonable bounds.
You do not have the right, for example, to sell your own body parts. You do not have the right to sell unregulated drugs at public schools, etc.
This isn't all that hard to grasp, right?

Now, lets compare apples to apples...
i do have the right to sell the book I wrote at whatever price I want,
I do have the right to sell the furniture I built at whatever price I want.
I do have the right to sell the i-phone app I wrote at whatever price I want.
I do have the right to sell the house I bought at whatever price i want.
I do have the right to sell the car I restored at whatever price i want,
This isn't all that hard to grasp, right?

If you were the only allowed maker of a critically needed drug and you decided to hike the price of that drug 5000%, you are engaging in price gouging which is an abuse of a monopoly position in the market.
This isn't that hard to grasp dude. If you cant see the point then you are in serious need of some counseling.

Translation:
You cannot soundly counter the point made here.

No, here is the translation; if you think some jack ass can arbitrarily run a price up on life saving drugs by a factor of 500 times its previous price then you are morally deficient.

 

[M14 Shooter]

Not according to the legal definition of price gouging, which consistently relates to profiteering through scarcity caused by a natural disaster.

Well in this case it is scarcity via government disaster, as the medicine in question is working under a government imposed monopoly.

Nice try, but.... no.

As I understand it it is a monopoly drug. What do you mean 'no?'

Your argument for price gouging.
There's no disaster involved, and so claims of price gouging cannot soundly apply.

There is a shortage created by a government imposed monopoly, so the seller has no right to set the price at whatever he wants.

Good to see you gave up on "price gouging".

 

[M14 Shooter]

Nothing here negates the fact that my right to pursue happiness - that is, to own property and sell it at whatever price I choose- is protected the law, as intended.

Yes, it is, within reasonable bounds.
You do not have the right, for example, to sell your own body parts. You do not have the right to sell unregulated drugs at public schools, etc.
This isn't all that hard to grasp, right?

Now, lets compare apples to apples...
i do have the right to sell the book I wrote at whatever price I want,
I do have the right to sell the furniture I built at whatever price I want.
I do have the right to sell the i-phone app I wrote at whatever price I want.
I do have the right to sell the house I bought at whatever price i want.
I do have the right to sell the car I restored at whatever price i want,
This isn't all that hard to grasp, right?

If you were the only allowed maker of a critically needed drug and you decided to hike the price of that drug 5000%, you are engaging in price gouging which is an abuse of a monopoly position in the market.
This isn't that hard to grasp dude. If you cant see the point then you are in serious need of some counseling.

Translation:
You cannot soundly counter the point made here.

No, here is the translation; if you think some jack ass can arbitrarily run a price up on life saving drugs by a factor of 500 times its previous price then you are morally deficient.

As I said: you understand that you cannot soundly counter the point made here.

 

[JoeNormal]

He said he was going to lower the price but made sure he told us that we do not understand how corporations work......I bet a boycott would suffice to give him an idea of how it works..

All of this demonstrates the beauty of the free market.
Not at all sure why some people immediately call for government action in a case like this.

The overwhelming majority of people view Martin Shkreli as a complete scumbag for his actions. Given the chance, you would apparently do the same thing. This means that the overwhelming majority of people view you as a complete scumbag too. Let me guess, you don't care.

 

[M14 Shooter]

He said he was going to lower the price but made sure he told us that we do not understand how corporations work......I bet a boycott would suffice to give him an idea of how it works..

All of this demonstrates the beauty of the free market.
Not at all sure why some people immediately call for government action in a case like this.

The overwhelming majority of people view Martin Shkreli as a complete scumbag for his actions. Given the chance, you would apparently do the same thing. This means that the overwhelming majority of people view you as a complete scumbag too. Let me guess, you don't care.

Me: I have the right to sell my property at any price i wish to name.
You: You're a poo-poo head!
Good to see you know you cannot attack my position with anything substantive..

 

[JoeNormal]

He said he was going to lower the price but made sure he told us that we do not understand how corporations work......I bet a boycott would suffice to give him an idea of how it works..

All of this demonstrates the beauty of the free market.
Not at all sure why some people immediately call for government action in a case like this.

The overwhelming majority of people view Martin Shkreli as a complete scumbag for his actions. Given the chance, you would apparently do the same thing. This means that the overwhelming majority of people view you as a complete scumbag too. Let me guess, you don't care.

Me: I have the right to sell my property at any price i wish to name.
You: You're a poo-poo head!
Good to see you know you cannot attack my position with anything substantive..

Typical right winger. Black and white view of every issue.

 

[M14 Shooter]

He said he was going to lower the price but made sure he told us that we do not understand how corporations work......I bet a boycott would suffice to give him an idea of how it works..

All of this demonstrates the beauty of the free market.
Not at all sure why some people immediately call for government action in a case like this.

The overwhelming majority of people view Martin Shkreli as a complete scumbag for his actions. Given the chance, you would apparently do the same thing. This means that the overwhelming majority of people view you as a complete scumbag too. Let me guess, you don't care.

Me: I have the right to sell my property at any price i wish to name.
You: You're a poo-poo head!
Good to see you know you cannot attack my position with anything substantive..

Typical right winger. Black and white view of every issue.

Nothing here changes the fact that you know you cannot attack my position with anything substantive.