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Old 09-13-2005, 09:22 AM
vulturesrow vulturesrow is offline
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Join Date: Apr 2004
Posts: 24
Default Re: A simple economics question:

I am using the social goods term a bit loosely but its close enough. My only point is that the market doesnt always provide what a majority of people would agree is probably more beneficial to society as a whole. The AIDS drug vs. impotence drug was a good example, any race issues notwithstanding. I think most people agree that it is more important that we find a cure for AIDS rather than the cure of impotence. But yet we have two major drugs on the market now for erectile dysfunction and although we have made strides in the field of AIDs medicine. Granted, its a bit of a forced comparison due to the relative complexity of the two problems. But the basic point is that peoples individual self-interests dont always translate to what might be the best public utility. Note I am not making a value judgement on this point, just pointing out what I see as a possible weakness in the free market system.
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