Quote:
Originally posted by Secret_Agent_Man
don't pretend that there is not rampant predatory pricing.
|
Time to play antitrust timmy:
Companies are not engaging in predatory pricing when they charge high prices. Predatory pricing is charging prices below some measure of cost in the hopes of driving out a competitor so that prices may later be raised.
What drug companies engage in is monopoly pricing, when they have a patent monopoly. And they may also engage in price discrimination, as when they charge some consumers higher prices than others (e.g., US vs. Canada, insured vs. uninsured). And some might call such high pricing "price gouging," but that's not illegal except in some backwards states in an emergency, and generally is applied to necessities such as plywood and gasoline.
