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Joined 1 year ago
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Cake day: June 13th, 2023

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  • This is a notoriously difficult thing to prove out either way in data, and I’m sure it varies situationally.

    The Mariel Boatlift natural experiment did not demonstrate a decrease in wages or increase in unemployment. It makes sense: immigrants both work and consume (i.e., create demand). Unless every immigrant happens to work in the same industry/union, the sum total of immigrants may create demand for labor equal to or greater than they fill.

    It also may have the impact you’re suggesting. But it doesn’t have to be zero sum. And, understandably, people only remember when they lost a job potentially tied to immigrant labor. Nobody asks if the job they’re applying to was created due to demand immigrants added to the economy (and how could a company know that?).



  • Two points about R&D costs:

    First, they aren’t just trying to make up what they spent on this treatment, but others that failed during research/trials. There’s a lot of them the general public will never hear about, and pharmas generally don’t like to bring attention to their failures. Part of that is many shareholders are morons who don’t understand how science works.

    Second, the costs can get fuzzier for larger companies who in-house much of the R&D process, since the costs get shared among many programs. Properly attributing spend in that case can be a serious challenge.

    All that said, they’ve clearly seen an opportunity to rake it in with this trendy drug and are charging way more than they need to.