[ExI] Why is "cost of living" such a big problem?

[spike at rainier66.com]

-----Original Message-----
From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of Ben
Zaiboc via extropy-chat
Subject: Re: [ExI] Why is "cost of living" such a big problem?

On 05/11/2026 22:46, spike wrote:
> Medicine does cost a lot more in the USA, for reasons we already
established: the cost of the research and qualification must be paid back.


No, spike, we did not establish that. You claimed that, which is a different
thing.

From
https://www.goodrx.com/drugs/savings/why-are-prescription-drugs-more-expensi
ve-in-the-us-than-in-other-countries:

"People in the U.S. are regularly paying more for prescription
medication...Starting in 2026, the U.S. is set to negotiate prices on select
high-cost drugs for Medicare beneficiaries."

Starting in 2026. OK.  Did they?OK.  Did they?

>...This should be a good test of your claim. According to you, it should
precipitate the collapse of the drug companies, because they will no longer
be able to charge the high prices they have been doing, which, according to
you, is essential for them to make back what they spend developing the
drugs...

>...If your claim is wrong, and the high prices are actually a result of
profiteering 

Profiteering: is going to work profiteering?  Is investing profiteering?  Is
doing anything profiteering?  How are we defining the term?

Without profiteering, there is no profit, which means there is no
investment, which means there is no economic activity.

>...then they will not collapse, they will just have poorer shareholders.
-- 
Ben

_______________________________________________

Research is risky.  Most companies fail to find the profitable solution
first.  Without profiteering, there is no profit, and there are no
shareholders.  Shareholders go to other industries.

spike