Economics: Krugman on the Fed’s rate decision, and those lovely institutions called banks.
This article says a lot about our economy, and is the starting point for the health care articles that follow.
Health Care: The article above bridges directly into the next one.
The headline above might be obvious. How could deductibles not rise faster than wages when wages aren’t increasing? And what do deductibles often get spent on? Drugs! (Our next stop.)
Capitalism at it’s finest – raising a drug’s price from $13.50 to $750 just because you can, and because you want to make a profit. (Here we get back to my point that capitalism isn’t moral, or immoral – it’s amoral [as in the pursuit of profits doesn’t have any morals; they’re simply not a consideration].)
For those of us who are a bit more morally attuned to the fact that drugs are often necessary for the health of human beings, there was the expected negative reaction. That produced, among other things, the following response.
The key here is to note that this response has a major difference from the current system (set up largely by the drug industry to guarantee the ability to make profits).
It should be noted that the extensive negative publicity has led to the rollback of some of the more outrageous price hikes. That may not be enough to prevent hearings and/or legislation on the matter. Stuff like this tends to prove that bipartisanship isn’t dead – what politician of either party wants to come out in support of companies that raise prices like this?
Back to economics, briefly. If there’s any question about the amorality of capitalism, this story might be the slam-dunk on the issue of making money any way you can.
(As a former librarian, I was aware of the difficulty (impossibility) of getting a copy of the Civil Rights documentary ‘Eyes on the Prize.’ According to NPR today, the rights restriction that made it unavailable was because of the scene where people sang ‘Happy Birthday’ to Martin Luther King, Jr.)