I must be missing something. Give me an example of "under-regulated" or "under-thought" capitalism.
Purdue Pharmacueticals.
Origins of an Epidemic: Purdue Pharma Knew Its Opioids Were Widely Abused
That is your example of unregulated capitalism?
Title 21 United States Code (USC) Controlled Substances Act - Section 801-971
Roughly 100 pages of laws. Doesn't include FDA regulations either.
That's just Federal Laws too, and doesn't include State laws.
This is exactly my point. You are pointing to the pharma industry, which is one of the most highly regulated industries in the country, and then claiming this is an example of unregulated capitalism.
And this is typical of all socialist views. You screw up a system, and then when your endless government regulations and controls end up blowing up the system, like the sub-prime crash, you try and blame it on Capitalism.
Well that doesn't work. Not for people who think, at least. You can't have a thousand laws on drugs, and then when something happens you don't like, blame it on the lack of regulations.
Further, it is most likely because of regulations and government, that we have the opioid epidemic. There are clear signs that Medicaid directly supported the crisis.
https://www.amazon.com/Dreamland-Tr...emic/dp/1620402505/&tag=ff0d01-20?tag=usmb-20
Sam Quinones on Heroin, the Opioid Epidemic, and Dreamland - Econlib
The economist who wrote the book Dreamland, gave a podcast interview on this, on EconTalk. You can listen to it if you want.
Regardless, if you look at the evidence, Medicaid directly promoted the Opioid crisis.
By covering the cost of the drugs to poor people, who then turned around, and sold the drugs on the street, combined with Medicaid doctors who were willing to take cash payments from people they knew were selling the drugs illegally, Medicaid alone, created a vast market for prescription opioids.
And while you can claim, along with the fake news media outlets, that all the drug companies were doing thus and so..... the truth is, the drug companies had no real alternative.
You can sit here and say in retrospect that they should have prevented the sales of their pills.... but in an alternate reality, if the drug companies 20 years back had intentionally prevented sales of pills, and one single patient had been denied the drugs they wanted through Medicaid..... you people right here, right now, would be have a toddler level melt down about how the evil drug companies were refusing to supply needed medications to people.
And we know this, because you and those like you have already had such threads on this forum for other situations.
The drug companies, do not have company representatives at every doctors office in the country. They don't have evaluations for everyone single patient. Yes, they likely did know that their drugs were being sold, but without omniscience to know which patients were lying and selling, and which really needed it, there was nothing they could do. If they had attempted anything to stop drug sales, you people would have been all over them.