{"id":14745,"date":"2023-04-16T20:16:50","date_gmt":"2023-04-16T20:16:50","guid":{"rendered":"https:\/\/www.goodacademic.com\/blog\/questions\/is-it-morally-acceptable-for-drug-companies-to-charge-as-much-as-they-can-get-away-with-in-order-to-maximize-profits\/"},"modified":"2023-04-16T20:16:50","modified_gmt":"2023-04-16T20:16:50","slug":"is-it-morally-acceptable-for-drug-companies-to-charge-as-much-as-they-can-get-away-with-in-order-to-maximize-profits","status":"publish","type":"questions","link":"https:\/\/www.goodacademic.com\/blog\/questions\/is-it-morally-acceptable-for-drug-companies-to-charge-as-much-as-they-can-get-away-with-in-order-to-maximize-profits\/","title":{"rendered":"Is it morally acceptable for drug companies to charge as much as they can get away with in order to maximize profits?"},"content":{"rendered":"

Files are linked with exact instructions on completing a successful ethics paper. Here is the info on the case I am choosing.<\/p>\n

The checklist states the paper’s second argument needs to have 1000+ words but it really only needs 500 words. <\/b><\/p>\n
Developing, creating and distributing drugs can be fairly expensive and it is generally<\/div>\n
accepted that drug companies have a right to profit from their efforts. However, in recent<\/div>\n
years it has been claimed that certain drug companies have been overcharging for their<\/div>\n
products in order to make even greater profits, often at the expense of people who are<\/div>\n
very sick. For some drugs, such as the AIDS treatment AZT, many people who need<\/div>\n
them the most can least afford to pay the prices the companies charge. In response,<\/div>\n
people have argued that the companies should, at the very least, reduce the costs in order<\/div>\n
to make the drugs more readily available to those who need them. Some even claim that<\/div>\n
in certain cases the drugs should be distributed at cost (or even for free). The companies<\/div>\n
counter that they have a right to recoup their expenses and make a profit for their<\/div>\n
shareholders.<\/div>\n
Issue: Is it morally acceptable for drug companies to charge as much as they can get<\/div>\n
away with in order to maximize profits?<\/div>\n
Hints<\/div>\n
Arguing that it is acceptable: One approach is to argue that the long-term benefits<\/div>\n
outweigh the potential harms. While some people might not be able to afford the existing<\/div>\n
drugs, the extra profits will encourage and enable the companies to develop more drugs<\/div>\n
that will alleviate a great deal of human suffering in the long run. Since drug companies<\/div>\n
are motivated by profit and not the goodness of their hearts, bringing about the best<\/div>\n
results for the greatest number requires allowing them to maximize profits. Another<\/div>\n
approach is to argue that drug companies are like any other business and that they have<\/div>\n
the moral right to charge whatever the market will sustain. The task here is to argue for<\/div>\n
such a right. Another approach is to argue that we should not expect any more from<\/div>\n
companies than we do from individuals. For example, it would be very nice if you,<\/div>\n
instead of working for money, simply worked for free to benefit the poor and the sick.<\/div>\n
However, most people think they have no obligation to do this. The task would be to<\/div>\n
support this view and make the analogy between the individual and the company.<\/div>\n
Arguing that it is unacceptable: A moderate approach is to argue that the harms of<\/div>\n
allowing companies to maximize profits exceeds the benefits they would gain. The task<\/div>\n
would be to show that companies can still make a reasonable profit while making the<\/div>\n
drugs available at a reasonable price. A more extreme approach would be to argue that<\/div>\n
the companies are obligated to provide such drugs even if they would make no profit at<\/div>\n
all. This could be done by taking a consequentialist approach and contending that the<\/div>\n
general good would be better served. Another approach is to argue that the drug<\/div>\n
companies are obligated to help sick people if they can. If you take this position, one<\/div>\n
thing to consider might be the difference between drugs and other consumer products.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Files are linked with exact instructions on completing a successful ethics paper. Here is the info on the case I am choosing. The checklist states the paper’s second argument needs to have 1000+ words but it really only needs 500 words.  Developing, creating and distributing drugs can be fairly expensive and it is generally accepted […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[1139],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/14745"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=14745"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/14745\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=14745"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=14745"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=14745"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=14745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}