I grew up on editorials sneering at Soviet shortages, supposedly the result of the defects of a managed economy. Assumed was the superiority of our system.
Right now, the US has a shortage in necessary drugs. These include vaccines for several childhood diseases, plus meningitis, tetanus, succinylcholine (used by ER trauma teams to relax muscles to allow insertions in the trachea), and many more. The WSJ has a write up on it "Doctors and Patients Face a Growing List Of Unavailable Drugs" pg B1, 2/15/02. Missing drugs are listed more fully at http://www.ashp.org/shortage/index.html
Now, isn't this a perfect example of Capitalism causing shortages?
The ASHP (pharmacists) site apportions some blame to Federal regulations. But the WSJ article makes it clear that most of the shortages are caused by business decisions. Wyeth for example decided to stop making tetanus vaccine (due to low profits) reasoning that two other drug companies would manufacture enough. But one of the other companies reached the same decision, unknown to Wyeth, resulting in a dearth of the vaccine.
You can't blame Wyeth, the vaccine is off patent protection, and the competition makes it less desirable to produce than some other drug.
It is the workings of Capitalism itself that guarantees these shortages, *regardless of need*. On the other hand, the same system gives us a glut of personal computers. Not that I mind the PCs, but we need the drugs.
OK, jks, where am I wrong?
-- John K. Taber
--- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.314 / Virus Database: 175 - Release Date: 1/11/02