quote:
So a company figures out how to produce the cure for cancer to an individual at a cost of $100 and they charge $100,000 for it - that isn’t evil?

That company wouldn't exist for long. The latter price removes the overwhelming majority of potential customers from the market. So while a very small percentage may pay the $100,000, the lost profits from those who can't pay are greater than the one's you're making, which causes an adjustment to the price more in line with the former.

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Posted by Golfer

Member since Nov 2005

75052 posts

Posted on 3/14/20 at 1:30 pm to SCLibertarian

quote:
That company wouldn't exist for long.

They'd still hold the patent. Or are you arguing against those, as well?

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Posted by Tigerfan56

Member since May 2010

10521 posts

Posted on 3/14/20 at 1:36 pm to SCLibertarian

quote:
That company wouldn't exist for long. The latter price removes the overwhelming majority of potential customers from the market. So while a very small percentage may pay the $100,000, the lost profits from those who can't pay are greater than the one's you're making, which causes an adjustment to the price more in line with the former.

You sure? How many people own homes in this country. How many people have loved ones who own homes? Everyone who does is taking out a second mortgage to cure their cancer or a loved ones. They wouldn’t be short of customers at all, and at those margins it wouldn’t make sense from a purely capitalist standpoint to lower prices just to reach a broader audience.

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