1) Free markets are not robust mechanisms for delivering rapid feedback on decisions. they are fragile because they do not take into account all the externalities and are vulnerable to cheating (price fixing, stock buy backs, pump and dump, collusion to name a few).
Would oil be priced where it is if it took into account the pollution, oil spill cleanups, and carbon emissions? If the market handled those externalities, we'd probably see oil price 3 to 5 times higher than it is now and the risk of climate change and it's side effects would be priced into the product and not be as big an issue.
There are many other markets where externalities are not accounted for period for example processed foods have a significant negative impact on the public health period if processed food makers were required to pay for all the healthcare issues processed food generates and again price of processed foods would be much higher than they are now. If the price is built in properly, then the health issues caused by processed foods would go be greatly reduced.
Why will externalities never be priced into a product? Because it will cut into the profit and shareholder value of the company. People waving the free market flag also seem to have an expectation that they have every right to take as much money as they can from the consumer and make unlimited profit without any consideration for the rest of the world.
2) Despite what the drug companies and Tick Tock influences claim, GLP-1 RA have serious side effects. Constipation, never-ending nausea, gastritis. There is some evidence that these drugs have also broken the peristaltic action of some patient intestines which keeps them from ever being able to eat normally again.
Yes, I did lose weight for the couple of months I tried the drug but when I stopped, the weight came right back. I think the weight loss mechanism was because I literally could not eat and I was starving myself.
And worst of all, it did nothing for my blood sugar.
Since the profit margin in the U.S. is astronomical, it is not surprising that virtually the only market is the U.S. -- certainly a victory for “free markets” (were gov’t created/enforced monopolies rule).
1) Free markets are not robust mechanisms for delivering rapid feedback on decisions. they are fragile because they do not take into account all the externalities and are vulnerable to cheating (price fixing, stock buy backs, pump and dump, collusion to name a few).
Would oil be priced where it is if it took into account the pollution, oil spill cleanups, and carbon emissions? If the market handled those externalities, we'd probably see oil price 3 to 5 times higher than it is now and the risk of climate change and it's side effects would be priced into the product and not be as big an issue.
There are many other markets where externalities are not accounted for period for example processed foods have a significant negative impact on the public health period if processed food makers were required to pay for all the healthcare issues processed food generates and again price of processed foods would be much higher than they are now. If the price is built in properly, then the health issues caused by processed foods would go be greatly reduced.
Why will externalities never be priced into a product? Because it will cut into the profit and shareholder value of the company. People waving the free market flag also seem to have an expectation that they have every right to take as much money as they can from the consumer and make unlimited profit without any consideration for the rest of the world.
2) Despite what the drug companies and Tick Tock influences claim, GLP-1 RA have serious side effects. Constipation, never-ending nausea, gastritis. There is some evidence that these drugs have also broken the peristaltic action of some patient intestines which keeps them from ever being able to eat normally again.
Yes, I did lose weight for the couple of months I tried the drug but when I stopped, the weight came right back. I think the weight loss mechanism was because I literally could not eat and I was starving myself.
And worst of all, it did nothing for my blood sugar.
Since the profit margin in the U.S. is astronomical, it is not surprising that virtually the only market is the U.S. -- certainly a victory for “free markets” (were gov’t created/enforced monopolies rule).