Let's not blame Mark Cuban for helping others whilst helping himself.

in #cost2 years ago

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Leave it to socialists to find a cloud in a silver lining; but, they seem to be the only people complaining about Mark Cuban's Cost Plus Drug Company.

The company is selling prescription drugs at a small fraction of their current market prices plus a 15% mark-up, a $3 pharmacy fee, and shipping. Some drugs that are $60 for a month's supply with insurance are being sold for a total of $11 through his business, which doesn't take insurance.

So, what are the gripes about this?

Well, some leftists seem to take strange umbrage at the fact that they don't take insurance. Well, yeah, the whole point of the business is to cut out as many middlemen as possible. Insurance companies are middlemen and a large reason why these drugs are expensive.

Really though, the complaints are simply that it's capitalism working.

Cuban did make a logical misstep by saying that he was trying to show that capitalism can be compassionate. It's not a complete messaging misstep; but, socialists and libertarians alike know that capitalism isn't about compassion. The difference is that socialists seem to think that nothing can be good unless it's compassionate while smart people realize that people can improve other's well-being while improving their own in the process.

The gripe is that he stands to make a profit. What they don't understand is that he's creating a market shock that could very well be a far greater impact than any charity.

He's doing things differently and providing things that people need much more cheaply than his competitors. So, his competitors will have to innovate. This is the kind of shock that could drive costs down across the entire industry.

What do they want? Do they want him to just buy the drugs and give them away? Well, that might be a kind gesture; but, it's not sustainable and probably not legal (because of laws that the overwhelming majority socialists support). Still, people are only willing and able to be benevolent for so long.

If we can establish a market in which people can profit by making people better off (as we have in most free market ventures) in the medical field, we should all be celebrating.