Quote Originally Posted by Lemur View Post
Quote for the morning:

The problem is that the demand curve for drugs is vertical, or nearly vertical. Sick people will consume only the quantity they need to stay alive/healthy, but will pay any price for that. If pricing were left up to the market, supply and demand for patented, life-saving drugs would reach equilibrium at about 100% of the consumer's assets, plus five years of indentured servitude.
Just like big agriculture does with food! Oh, wait...

So where did that quote come from? I want to know, so I can tell people about a case study in not understanding economics - not understand that if prices are severely high that a new player will enter the market undercutting prices. As long as there's not to much regulation inhibiting it.

CR