by Chris Campbell
Laissez Faire Books
“The current controversy over the price of the EpiPen, manufactured by Mylan, Inc.,” blogger Greg Calcaterra opines, “is quite instructive with respect to the nature of capitalism.”
Halle Tecco, professor at the Business School of Colombia, agrees, stating that the price gouging is simply a “byproduct of free-market capitalism.”
“Because capitalism,” in short, seems to be the go-to reason why a pharmaceutical company can jack up the price on a life-saving medical device over 400% in the span of a few years. Not an obscene lack of competition.
Noooooooooooo. Don’t be absurd.