Dean Kamen Quotes About Health Care Debate - Popular Mechanics

[Travis Hoffman]

Originally Posted by JesseK

The other side says that the cost of the medicine was too high due to ... whatever evidence they choose to present, who really knows why.

Greed.

[Mr. Pockets]

I found Dean's thoughts rather interesting, even though I didn't totally understand where he was going with them. I understand that he feels like more money into R&D is the right way to go, though I'm skeptical that such research would actually reduce costs for the consumers. Ideally competition between companies would keep the cost said drugs low, but judging from JesseK's point this isn't necessarily the case. I'm no expert on the industries associated with health care though. Would anybody be able to clarify why the drugs would cost so much? Greed alone wouldn't explain why competition between producers wouldn't at least lead to at least halfway reasonable prices. Or at least I wouldn't think that they would.

[Travis Hoffman]

Originally Posted by Mr. Pockets

Greed alone wouldn't explain why competition between producers wouldn't at least lead to at least halfway reasonable prices. Or at least I wouldn't think that they would.

Collusion.

[GaryVoshol]

Originally Posted by Mr. Pockets

Greed alone wouldn't explain why competition between producers wouldn't at least lead to at least halfway reasonable prices.

Originally Posted by Travis Hoffman

Collusion.

No collusion needed. The monopoly power of a patent quashes competition. Not that that's a bad thing, if it means that entrepreneureal folks keep inventing good things because they have the promise of a payback. I think that's Dean's main point. Without a reward, there is little incentive to work hard at creating something.