There's a huge mismatch between the interest of the investors (sell as much drugs as possible, for the highest possible price) and those of the consumers (be healthy without depending on external input).
The pharma industry should be working hard on planning its own obsolescence.
The same dynamic is at work in the food industry, which is responsible for the obesity epidemics.
Capitalism as it is practiced right now has catastrophic flaws. We need to change the rules of the game, yes, and not necessarily seek profit and growth at all costs.
> The pharma industry should be working hard on planning its own obsolescence.
In an ideal word. But as you show in your mismatch "serving shareholder value" is prohibitive to this. So having then as (blue chip) for profit bizes is making sure they will NOT ever be planning they own obsolescence.
> The same dynamic is at work in the food industry, which is responsible for the obesity epidemics.
...and high amount of pesticide residues, and destruction of the ecosystems, and heavy pollution on surface waters, and extreme disdain for animal wellbeing, and... (cries)
> Capitalism as it is practiced right now has catastrophic flaws. We need to change the rules of the game, yes, and not necessarily seek profit and growth at all costs.
To my understanding it should never be the economic model
"to govern all markets", but AN economic model allowed in some markets while carefully bounded by rules and ensuring (1) best outcomes for we the people and (2) a leveled playing field.
The pharma industry should be working hard on planning its own obsolescence.
The same dynamic is at work in the food industry, which is responsible for the obesity epidemics.
Capitalism as it is practiced right now has catastrophic flaws. We need to change the rules of the game, yes, and not necessarily seek profit and growth at all costs.