Astronuc
Staff Emeritus
Science Advisor
Gold Member
2025 Award
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There are at least two different matters here. Regarding protectionism, there are trade restrictions such as anti-dumping laws or laws regarding unfair competition regarding commodities and services. Several US steel manufacturers have filed actions against Chinese companies dumping steel on the global market.jim hardy said:Interesting though it is contrary to some of his protectionism talk about other industrues.
Has pharma industry abused monopoly status in US ?
In the case of big pharma, the US government does grant a monopoly vis-a-vis patent protection, which grants the inventor, or more often the assignee, exclusive rights to an invention, e.g., a drug or pharmaceutical, so that the inventor or assignee can derive an income or recover investment in the invention. There is certainly a conflict where a pharmaceutical company wants to recover costs quickly by charging a high price while an individual (or government or insurance company) wishes to pay much lower price.
The issue of issue of health is about access to health care and affordability. Is health care a natural right, or is it available to those who can afford it?