tag:blogger.com,1999:blog-6598831864333990375.post8646856103056079637..comments2023-05-08T04:01:34.561-08:00Comments on Students Who Enjoy Economic Thinking: Coercion and the English LanguageAdam Levyhttp://www.blogger.com/profile/15257124483756325652noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6598831864333990375.post-57349570576890844812011-02-05T16:33:44.373-09:002011-02-05T16:33:44.373-09:00In this chapter of the text Hayek defines coercion...In this chapter of the text Hayek defines coercion as, " conrol of the eviornment or circumstances of a person by another that, in order to avoid greater evil, he is forced to act not according to a coherent plan of his own but to server the ends of another"<br />So in regards to the pharmaceutical question at hand in terms of coercion is to what extent does the pahrmy. company have control in the enviornment/circusmtnace of the person in need of said drug. Is the company in control of the fact that the person is sick? No. The pharmesutical company meerly has the answer to the persons problem. If the pharmesutical company did not exsist the person would have no option other than death, but because the company does exisit the person now has the option to live, if the person is willing to pay the price. It is up to the sick person do a cost benefit analysis of his situation and act accordingly.<br />This brings me to the arguement that the companys actions are not coercive because the choice of the person purchasing the drug, and in so choosing to live, ultimatley serves himself. <br />I would also like to make the point that although by definition the companys actions might not be considered "coercive" it is my opinion that there actions are unethical. Although one could also argue that the profit the company makes from selling a miricle drug at a high price would enable that company to invest in more reserach in hopes of producing more "miracle drugs" and ultimaley result saving more human life than that was lost by inflating the price of the first drug.LaceyJanehttps://www.blogger.com/profile/01084321455122299397noreply@blogger.com