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Comment by kolbe | Hacker News Reader

Welcome to crony capitalism. It's America's specialty.

Passing this bill gives the drug companies the same amount of money as today. It only capped copays. Doing that still just passes on increased insurance costs to individuals. Drug companies would still make a ton.They need to wait for their in house insulin so they are not just giving a ton of money to the drug companies through the VA/Medicaid.

This was proposed by republicans to help save their pharma buddies from losing a ton of business in california to the state contracted insulin. If the cap went into effect there is no reason for people to switch to the state funded insulin.

Sure. I wasn't really responding to this bill directly.

Plenty of countries do it. It's a misnomer to call it capitalism. It's fascism: nominal private ownership with defacto government control in different potential ways (e.g. force backed barriers to competition, regulation boosting costs, etc.)

I think that's why Crony Capitalism has a very specific meaning different from Capitalism. Modifiers make a difference. For example, National Socialism and Socialism are very dissimilar.

National Socialism is a type of socialism and the National Socialist party platform is overtly socialist in every way if you want to look it up in historical documents. The ludicrous idea that they were "right" was a crude smear from the communists who were merely trying to undercut a competing gang. A smear even more ludicrously carried forward to the present day by the staggeringly ignorant.

National Socialism is socialist in the same sense that the DPRK or the GDR are/were democratic.

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