Pharmocracy: How Corrupt Deals and Misguided Medical Regulations Are Bankrupting America--and What to Do About It Review

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Pharmocracy: How Corrupt Deals and Misguided Medical Regulations Are Bankrupting America--and What to Do About It ReviewWilliam Faloon's book, Pharmocracy, is an expose that offers good information on how the pharmaceutical industry actually works. Listen to the next few Big Pharma ads you see on TV- do they offer a cure, or do they simply, "manage your symptoms?" FYI, it's always the latter, because that's where the money is. If you cure something, you either put yourself out of business or you ensure a catastrophic market-share drop. Use common sense- would a company that's beholden to Wall Street and shareholders do that? Of course not. Thus, it perpetuates a cycle of keeping people "ill but managed" to ensure a steady stream of profits.
Faloon also focuses on how much these new drugs cost- on average, $100,000 per patient. At that rate, Medicare is unsustainable- no one will argue that. But while there are definite benefits to deregulating medicine and letting the free-market dictate how to best solve the healthcare crisis in America, the author forgets one thing: deregulating healthcare during the Nixon administration via Kaiser created the whole mess we are currently in. Suddenly, treatments that were affordable became unaffordable, and before long, doctors appointments went from $25 to $100+ for even a standard visit.
Then, in the 1980's, government allowed researchers to patent any pathogens they discovered. What happened? They took research that many times had been funded by tax-payer dollars and took the pathogen (and it's research opportunities) private, allowing them to hide information and research from other institutions. Many created companies that made billions by licensing the rights to do research and create drugs that addressed them. In the end, this privatization did far more harm than good, and arguably has led us to where we are today.
In short, the book offers some definite truths about the corruption, greed and politics of modern-day American medicine. Where it goes wrong- in my humble opinion- is assuming that by making medicine free market and eliminating regulations, the problem will solve itself. The answer more likely lies in eliminating *bad* regulations and allowing some level of privatization, but addressing the "greed factor" with limited regulation where it's needed. If that happened- and don't bet on it, as the lobby is far too powerful at this point- we'd be a long way towards creating an affordable, working healthcare system in the states.
Pharmocracy: How Corrupt Deals and Misguided Medical Regulations Are Bankrupting America--and What to Do About It Overview

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