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va_str t1_jaqd1qo wrote

Reply to comment by AnnexBlaster in US public investment in critical research contributed to the success of mRNA Covid vaccines, and saved millions of lives by geoxol

Taxes aren't profit extraction and this idea that the profit motive is driving research is nonsense. Funding to conduct research is already taken from taxpayers.

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AnnexBlaster t1_jaqddst wrote

If the government wants to accelerate research it has to tax more. Its also getting less taxes from biotech/pharm companies because they cant make profit.

In order to bridge this gap the government needs to make money from somewhere (taxes) or no research will be funded.

The US government cannot print money forever without raising taxes.

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va_str t1_jaqfbo6 wrote

I work in cancer research in the UK, and ALL our money is coming from the government. Where there's a will and relevant priorities, there's a way. That's really the crucial part, because governments have plenty of money to spend. Where they spend it is the real question, not how to raise more.

That said, even just moving the extracted profit into taxes instead would yield a substantial improvement. People make money off of this. Stop that and move the money back into research.

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watabadidea t1_jatzr04 wrote

>...this idea that the profit motive is driving research is nonsense.

Yeah, if the is one thing I know for certain, it is that big pharma hates making decision based on what stands to generate more profit.

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va_str t1_jauwxj7 wrote

One of those decisions being risk-aversity and subsidizing most of their research, yes.

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watabadidea t1_javevpd wrote

There are lots of ways to avoid risk, lots of different levels of risk aversion, and lots of potential government subsidies to apply for. How do companies decide on how best to avoid risk, what a proper level of risk aversion/risk acceptance is prudent, and what specific subsidies to target/apply for?

Those are really tough questions and the answer is a complete mystery. Of course, I do seem to recall an interview one time with a Big Pharma exec where he said "None of our decisions in these areas have anything to do with profit motivation. Lord knows we don't operate in a trillion dollar, for-profit industry because we want to make money."

So, at the very least, we know it's not that, right?

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va_str t1_javhqo7 wrote

You're really making my point for me. There are indeed plenty of options, and the profit motive motivates choices towards greater profits, not the greater good.

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