J&J, Merck, and Bristol Myers Squibb spend billions more on executives and stockholders than on R&D — Senate report points to greed and ‘patent thickets’ as key reasons for high prices::Senate report points to greed and “patent thickets” as key reasons for high prices.
Behold the “efficiency” of market capitalism the self-serving economists love crowing about.
Efficient at making wealthy sociopaths richer for doing nothing, using the value of your labor, and nothing else.
Efficiency of capitalism is moving profits from the bottom to the top while expending the least amount of capital on products and employees.
The only people who treat capitalism like some sort of “fixer” for something like government are sycophants and the same ones that completely ignore privatization fucking over government (and the taxpayer) wirh cost overruns and wealthy executives.
They saw an opportunity to make money and took it. All else be damned.