RT @lhfang: Wall Street is pressuring key healthcare firms to hike prices over the coronavirus crisis. Audio here of bankers asking drug companies, firms supplying N95 masks & ventilators, to figure out how to profit from the Covid-19 emergency. https://t.co/uRAryECd1K
Reading the article it seems to focus on one particular asshat at Barclays asking the questions. Sounds like a particularly morally bankrupt person. You can actually find his phone number and email address with a simple google search perhaps he should be questioned on his perspective before he is crucified.
So you're mad that these companies want to take money from customers happy to give it to them, and instead you want the government to take money from you and I and hand it over to them instead?
Go fuck yourself you commie shithead
I never said I want to give my money to these piece of shit insurance companies that all they do is deny peoples claims all the time, and steal our money to make themselves rich.
U want to bootlick those trust fund brats, that's fine, go send them your paycheck directly. But they don't do shit for us as a collective. Dumbass boomer.
Now stop trolling before I ban you.
The entire goal of a business does not have to be "profit above all else." An organization can have an ethical approach, and even a mission that involves other instrisic benefits to investors, workers, and the community. And before you rebuttal with "that's what a non profit is for", I'll point out that yes, it's true that "non profit" is a bit of a misnomer because successful entities in this space do actually find ways to make a profit in some ways.
Entities that have 501c3 status are required to conduct themselves in certain ways that may or may not be suitable for every entity with a mission besides "profit."
Bottom line, more companies can have a mission beyond profit without being a 501c3 and be just fine.
Until the charter is overridden or the startup is bought.
Some morality needs to come from outside. There is no Good Powerful CEO or Founder that stays on control forever.
Let's not go Ayn Rand and just trust money/wealth as if it were grasped only by purest alabaster vessels of wisdom.
What i dislikes is the implication thats its capitalism’s fault and that if we gad x instead of capitalism wed be ok. And its my belief that it(humans) just don’t work that way. I totally agree that capitalism wont be saving or serving the best interest of people or society, but i don’t know what system would.
They're not entirely different, they're both effects of a short term demand spike. It's only economical to increase production when there's a long term increase in demand and once that production ramps up the price will normalize because supply and demand are once again in balance.
Because every manufacturer on the planet -knows- these equations and -knows- they'll lose money if they ramp up production to meet temporary demand, no massive new supply actually materializes when the prices spike because of a sudden supply shortage.
To make one is the supply barrier.
What are you thinking? This is an issue of people not wanting to sell vast stockpiles??? That only some genius could find the huge untapped source somewhere?
To make one is hard. A market needs multiple suppliers.
To buy one in a normal market is easy. To buy one now means you suffer from an oligopoly and a market imbalance suddenly.
The market economics is described as *failed* until supply and competition catch up.
No .... "government" is not the only problem. Sellers of fake masks are the problem that a normal consumer cannot navigate.
just because someone somewhere can does not mean the barriier to entry is low. why dont you check how much it would cost, then how difficult it would be to find a buyer, then cost of employees and setup and so on. it is easily in the millions.
i would say there is a significant barrier.
I have no idea what we are arguing about. Yes, if you or I started a factory it would be tough. In situations like this the primary supply increase will come from existing manufacturers doing longer production runs for things like masks and some similar manufacturers doing jumping into the game.
Crazy how this is an economics subreddit and nobody is talking about this. “Price gouging” is generally a good thing in situations like this. It limits demand while incentivizing businesses to increase supply.
I’m talking about very basic economic stuff. Supply and demand. Prices go up and encourage more production. Pumping out items faster costs more and prices signal where goods need to go. It’s not perfect but it’s better than everything else ever done and it’s not even close.
Either the government takes control and does things themselves, or you let business maximize speed and efficiency and have them do it for you.
Yes - the reality is that the government simultaneously gets in the way, and also refuses to get shit done either.