See on Scoop.it – The Great Transition
Mariana Mazzucato: Global pharmaceutical companies are dodging the risks by loading R&D costs on to taxpayers
Great article in The Guardian by Mariana Mazzucato.
"… just like the banks, big pharma socialises the risk, but privatises rewards. The few drugs that are coming out would not have emerged without taxpayer-funded research. Yet the taxpayer then pays twice: first for the research then for the high prices, justified by the supposedly high risk that big pharma is taking on. This is almost surreal: what risk? And what about taxpayer risk?"
This is Corporation 1920. What we need is Corporation 2020 (see the work of Pavan Sukhdev: http://www.corporation2020.org/
See on www.theguardian.com