Posted by
Rilaly on Tuesday, November 03, 2009 12:07:31 AM
One of the best arguments I’ve heard against socialized medicine, among the hundreds, is that right now America leads the world in producing medical technology. The advancements of American ingenuity in the medical care industry is one of the reasons that Canada and Europe have been able to remain on socialized medicine. I’ve heard the argument that non-political people say: “Why do they need profit in the field of medicine?” Why would a Merck or a Pfizer need profits to continue in research and development? The research arm of the these pharmaceuticals is based on profits. These companies take their profits and sink them back into their research and development for the next year and the next batch of advancements, medicine, and medical technology. If America goes to socialized medicine, you can expect most of the technological advancements America has been renown for to taper off or stagnate. One of the reasons for the stock market bubble in the early 90’s was the money freed up in the 80’s for firms such as Microsoft and IBM to devote to their research and development departments. The computer advancements of the 90’s may have tapered off or stagnated if these companies hadn’t had profits to devote to the growth of their company. Some would argue that many of these advancements were unnecessary and frivolous, but will we be saying the same thing about medical advancements? I guess we’ll have to leave that argument to future generations if this bill passes.