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E-Tank posted:750$ a tablet. When Shkreli begins price gouging, his competitors will setup production lines for Daraprim and undersell him. Shkreli's own employees will notice the obvious opportunity and begin smuggling pills out of his factories and warehouses, earning a tidy profit on the black market. Neighbourhood pharmacists, filled with libertarian "can do" spirit (and freed of regulatory shackles), will quickly learn to synthesize the drug from household materials. If the price-hike was actually effective, then most of Skreli's customers would quickly die of toxoplasmosis (since we don't have any of that commie-human being socialized medicine anymore, and most people aren't productive enough to absorb a $225k/yr increase in their cost of living). Shkreli, being a captain of industry with rational foresight and enlightened self-interest, will recognize the price-gouging plan as self-defeating. He will continue to sell his goods at the optimum price. And the ghost of Ayn Rand will gaze down in beatific splendor, fondly regarding the world she has created. In fact, the only regime in which price-gouging is even possible is one wherein men with guns will initiate violence against any competitor who attempts to manufacture Daraprim in violation of Shkreli's patent. As with all negative things, it's the state's fault. Please ignore the opportunity cost of setting up a new pharmaceutical production line, the huge amount of capital and risk involved in doing so, the possibility that the competitors' drugs will have unforeseen interactions or side-effects (due to rushed deployment and minimal testing), the deaths which would result from people buying black market "Daraprim" (actually relabeled acetominophen), the inherent difficulty of cloning a drug when its composition and pharmacokinetics are kept as trade secrets instead of being held on-file at the FDA, the possibility that Shkreli will collude with his competitors to maintain monopoly pricing, the implicit assumption of long-term thinking (if Shkreli is focused exclusively on quarterly results, then the temporary profits from gouging are too attractive to pass up ... and the self-defeating consequences are irrelevant), and the observed fact that market competition is unreliable for very low-volume products (need orphan drug? prepare to be gouged, sucker!)
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Oct 11, 2015 13:46
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Caros posted:That said the atlas shrugged on is on my plate. It is a monster of a book and I'm still debating just how much depth I want to go into. Too much and I worry that I'll just end up posting updates that are just "gently caress you ayn rand" over and over again by the middle of the book.
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Oct 22, 2015 10:42
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spoon0042 posted:My ancestors Walter Block (Water Capitalism: The Case for Privatizing Oceans, Rivers, Lakes, and Aquifers) rejects the ad coelum theory of land ownership (in which a farmer owns a "pizza slice" of land extending down the core of the Earth, and a similar chunk of sky). If you discover an oil reservoir under your turnip farm, someone else could fairly extract all of the oil by slant-drilling without paying you a dime ... so long as their wellhead begins pumping before you can build one of your own. If they gently caress up the technical details and create a bunch of sinkholes (or poison the groundwater, or create minor earthquakes) then they're liable for any damages to your farm - assuming that you can prove it (at your own expense, of course). jrodefeld posted:redistributing stolen property to its more rightful owner wherever and whenever it can be proven through genealogical testing and historical inquiry jrodefeld posted:past property theft ought to be recompensed wherever it can be proven. You're operating under a voluntarist framework, so presumably the present owner of an estate (or a slavery-derived hereditary fortune) would need to weigh the evidence for himself and consent to redistribution. If so, what force could compel him to act in good faith? What stops him from arbitrarily dismissing any claim and thereby denying the sacred Galt-given  PROPERTY RIGHTS of a claimant?Aloysius Peitschmann posted:Wow, that's some great evidence! I especially liked the mDNA which you managed to recover - at fantastic expense, no doubt - from partial skeletal remains. And, of course, the original bills of sale bearing the names of your ancestors and the signature of my ancestor. You've got me 98% convinced. Unfortunately, there's still a tiny smidgen of uncertainty - one niggling quantum of doubt in my mind. I cannot, in good conscience, hand over my title to someone who might not be the rightful inheritor. After all... you might clumsily mismanage the sudden windfall, spending it all on lotto tickets, and thus leave nothing for the true heir who could appear at any moment.
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Nov 20, 2015 07:28
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VitalSigns posted:"Oh hey rowmate, you're awake now. Well lucky you my 1/8th of a conversation about internet moneys can entertain you while everyone out of earshot gets to sleep"
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Dec 19, 2015 11:07
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Who What Now posted:Yeah, if you honestly want to have an honest discussion then you need to start by telling us exactly what you believe
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Jan 24, 2016 03:39
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Absurd Alhazred posted:Instead of using gold for literally anything else, let us hoard it in large caverns underground, so we can enjoy its stability:  Sure - gold seems unstable over time. But any Bitcoin enthusiast could tell you that a linear graph is hopeless. If you really want to understand something, then you need to graph it on a logarithmic scale.  See? Much clearer. We now observe that the major deviations are all in the past, and that recent history is much more stable. This is obviously closer to the truth - as information technology enables more people to learn about gold, their trust in it ought to increase. But the picture is still incomplete. Praxeology informs us that gold is perfect, and therefore what we're seeing is actually fluctuation in the value of the US Dollar. You can try to fiddle with CPI baskets, but everyone knows that they're the creation of a bloated and corrupt federal bureaucracy. The logical solution is to remove that pesky fiat dollar from the denominator position, and replace it with something much more worthy. The result?  Perfect stability, just as Mises intended.
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Feb 16, 2016 06:24
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