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  1. #1
    Thailand Expat tomcat's Avatar
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    Other People's Money

    Politicians adept at spending tax revenue, but not so clever about the projects themselves...enormously wasteful expenditures:

    From disused stadiums to deserted airports: Billion-dollar wastes of money

  2. #2
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    Quote Originally Posted by tomcat View Post
    Politicians adept at spending tax revenue, but not so clever about the projects themselves...enormously wasteful expenditures:

    From disused stadiums to deserted airports: Billion-dollar wastes of money
    We can add the Pentagon and MIC companies, and Big Pharma also.....

  3. #3
    Thailand Expat tomcat's Avatar
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    Big Pharma isn't in the public sector...

  4. #4
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    Quote Originally Posted by tomcat View Post
    Big Pharma isn't in the public sector...
    Well...if one looks deeper, it kinda is.
    Government/Corporations are family.

    Many haven't awaken from their dumbed-down slumber to recognize as such.

  5. #5
    Thailand Expat tomcat's Avatar
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    Quote Originally Posted by thaimeme
    it kinda is
    sorry, doesn't work...Big Pharma stocks are traded on stock exchanges...and their executives are beholden to stockholders...all the rest is paranoia...

  6. #6
    Thailand Expat cyrille's Avatar
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    Quote Originally Posted by thaimeme View Post
    Quote Originally Posted by tomcat View Post
    Big Pharma isn't in the public sector...
    Well...if one looks deeper, it kinda is.
    Government/Corporations are family.

    Many haven't awaken from their dumbed-down slumber to recognize as such.
    No, jeff.
    I get your point...but, no.

  7. #7
    disconnected SKkin's Avatar
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    Quote Originally Posted by thaimeme
    Well...if one looks deeper, it kinda is.
    right on...

    But what drug companies conveniently leave out is that they have little to no involvement in the front-end development of new chemical compounds. That work is done almost exclusively by universities and government research facilities, typically funded with taxpayer money.

    In her book The Truth About Drug Companies, Marci Angell explains that, as a result of provisions in the Bayh-Doyle Act of 1980, publicly funded research facilities were allowed to claim ownership of their discoveries and license them to drug companies, which can then patent the new drug.

    Only at this point do companies begin clinical trials with human subjects. Unlike the low success rate of drugs at the preclinical stage, one in five drugs that enter clinical trials will make it to market. Thus, explains Angell, "The great majority of drug candidates are... weeded out very early on, before a great deal of money has been invested in them."

    And while clinical trials are expensive, the billions of dollars in profit that come from blockbuster drugs make the cost negligible. Thus, far from being the drivers of innovation, drug companies have managed to create a system in which taxpayers foot the bill for the most innovative part of the drug development process.
    quote from: The smirking face of Big Pharma | SocialistWorker.org

  8. #8
    Thailand Expat tomcat's Avatar
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    ...a somber echo from farther back in the cave...or is that a Cummins B-Series warming up?...

  9. #9
    disconnected SKkin's Avatar
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    ^Either way Jeff made a valid point...


    Quote Originally Posted by tomcat
    or is that a Cummins B-Series warming up?...
    I told you I don't own a pickup truck.


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