Also, I said two major flaws. Obviously, ppl have many flaws.
Edit: It's economic illiteracy if you don't understand that. If you have evidence which says otherwise(?), I'm happy to look at it.
Another argument of his I found extremely disgusting is that he claims he's reinvesting profits from the price raise to further drug research. Ok, but again, we only have his word for that (and he's been convicted of fraud(!)). You can only claim you're smarter than the system and more responsible so much before people realize what's going on.
Agree on the second point. Personally, I don't think that's relavent.
Edit: (I can't seem to reply) I think non-gov monopolies are ok. You'd make a ton of money in your example, & then be able to create more drugs. Generally, I think it's good for talented people to get resources. Superior resource allocation.
Let's say I create a cure for a truly horrible disease like Huntington's. Let's say it cost me absolutely zero dollars of R&D, I just happened upon it in some weird stroke of happenstance and the FDA does a rush approval and gives me a grant for even those costs, basically fantasyworld but $0 expenditure by me so everything I make is pure profit. And let's say I bring this drug to market and I give it a very controversial price. Which is that I will cure you of Huntington's if and only if you pay me 1 million dollars or all of your worldly possessions, whichever is higher. Do you believe I should be able to do this?