Imagine I am a scientist working for a pharmaceutical company and I spend 25 years working on a drug that will cure a disease. I patent my work, but the patent only lasts for 8 years. In that time, the pharmaceutical company sells the drug at a high price but uses most of its profits to fund more research. After 8 years, anyone can replicate my drug.
Why should I allow generic brands, in that 8 years, to make my drug? I know many more people would have access to it if I did, but at least when my company is in control of it there are quality controls and secondly, my work is not only funding more research but is something I invested a great portion of my life in. Is it fair to argue for generic drugs in that case?
Is global capitalism workable?
That is, if capitalism is a system where most of the economic activity is based on self-interest, are the kinds of restricting factors like social welfare, laws, charity and human instincts enough to stop the polarizing of wealth, destruction of the environment and stuff that we see?
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