Did you know that 10 out of the 12 largest foundations in the U.S.1 are those of pharmaceutical companies? And do you know who the beneficiaries of their largesse are? Themselves. And do you know who the victims of their largesse are? First and foremost The Upper Middle Class, and secondly America. Well, maybe it’s the other way around, at least in absolute terms. Nevertheless, the existence of these “foundations” leads to an enormous allocative inefficiency that feeds off the Honeypot Economics of healthcare.
Basically, all the “donations” from these foundations are used to ameliorate or eliminate the co-pays on the drugs their parent companies manufacture, for those who can’t afford the co-payments. For example Continue reading
- ranked by total giving, not by assets [↩]