Mads MBA Mind
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Mads MBA Mind

Module #7 Intellectual Property

Social, Moral, Economics of Foundational Business, MBAC 6002

Discussion Questions & Responses

The Cost of Healthcare

The Q:

What are your thoughts on the ethical issue of charging higher prices than some deem necessary for life-saving drugs to save some people now versus the investments in the development of new drugs that could save countless more lives in the future?

The A:

My thoughts on the ethical issue of charging higher prices than some deem necessary for life-saving drugs to save some people now versus the investments in the development of new drugs that could save countless more lives in the future is that this issue is about human rights. I personally believe that health care is a human right.

The United States is the leader of ‘the free world’ and many people claim the country to be the best. No doubt, I am patriotic. I love being an American and I become more entangled with my nationality after each travel abroad. However, following my numerous travels to other developed countries in Europe and living in New Zealand, I am disappointed that the USA does not provide universal health care.

I have a genetic disease diagnosed from birth. Till Obama Care, it was legal for insurance companies to deny me healthcare. This is wrong. I am left feeling like a risk, rather than a human with a disability that would like equal rights to health care.

Take a look at access to Healthcare

Access to healthcare in our country and the ability to afford prescriptions in terms of price correlate. If you can not get health insurance due to a preexisting condition, out of that citizen’s control, then medications have higher costs. Although high prices of a new medication could cause other firms to produce and sell a substitution driving down price over a long period of time, patients don’t have time to wait for life-saving drugs.

The morbid fate is death. I have been fortunate to be able to make it work to afford my subscriptions, but the majority of our population with pre-existing conditions aren’t so lucky. Ultimately, I wish our government would set regulations for pharmaceutical companies. The patient should be the stakeholders’ priority over price.

‘We the People’ have a right to universal health care and should set a standard that the government cares about its citizens, rather than prioritizing milking the American people while they suffer through medical trauma.

The Q:

Should professors have to choose course materials that are already available in the university library system? Is it really necessary to require the annually updated textbook, especially for concepts that do not greatly change year to year, like basic math, or do some professors negotiate kickbacks for requiring certain course materials?

The A:

John, it’s refreshing to see your copy bring attention to ‘the cost of education’. Higher education, in particular, is exclusive. Tuition alone is a major inhibitor for many young people considering to attend University.

The high price to obtain a degree is inherently designed to exclude a large subset of people in our country because of cost. State government and Federal government could take a stance in valuing the education of all of its people by lowering the costs for students across the board.

I find it strange and even questionable that the state is not giving more incentives for its citizens to be more educated or obtain a higher education at an affordable price. This is possible. Germany provides free college for their people.

Is that really going to change the amount students actually pay though, whether it is to the school or the bookstore or somewhere else online?

The additional costs of books and materials all add up.

If American students find themselves in the fortunate position to pay their tuition, then books and material costs should be included in the final tuition cost. Tuition in the states is not a small number. Significant scholarships to cover the experience is not common. All other associated added costs create more stress, interest, and ultimately hurt the student, thus resulting in fewer applicants showing this path due to the financial risk.

Universities will need to restructure their business model to make their educational content free, yet remain to profit on their professor’s research. This includes shifting their staff’s prioritizes and type of work contributed during their time at the school. I propose a structural redesign of the USA higher education funding or budget, give more tax money to higher education systems, and support the people that want to learn in order to move upwards in society.

Let the learners in! #systemic_racism

The Food for Thought:

Here is a fun question for our crew…

Do you watch shark tank?

There is a pattern that the sharks value when the entrepreneurs have patent documents for their products or product technology.

What do you think is the best patent to own?

Explore that, share your findings!

Take a position on which Shark you would want to work with if you were a contestant. Explain your choice and apply topics covered throughout our course.

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