Biotech Values

[poorgradstudent]

OT:

Insurance companies increase their profits by two mechanisms:

1) charge people more for the same service (increase income)
2) remove unprofitable people from their service (reduce costs)

Note what is missing here for the health insurance industry, and is generally the third pillar of increasing profits: true innovation. Health insurance companies are not a meaningful capitalist venture (currently) because their method of true innovation is practically nonexistant (they don't make drugs, nor do they run meaningful trials to test ways to improve public health). In fact, their practiced means of innovation (increasing 1 and 2 above) actually works against the health of the population at large.

It's ironic to see pro-market people fighting for industries that do not increase innovation.