Essay On Government Granted Monopolies

What would you say if I told you that government aided big companies in taking about extra money from you? What if I told you that you probably paid up to 5000% more for life-saving prescription drugs? The government played a key role for you to pay so much, because of government-granted monopolies, i.e., copyright and patent monopolies. Through these monopolies, the government insured big drug and entertainment companies with the right to overcharge everyday people, who are probably living paycheck to paycheck. What if I told you, it wouldn’t have to be like this, that there could be programs put in place to eradicate the overpricing of products? It would save you money, as these monopolies affect everyone.
In Dean Baker’s article “The Conservative Nanny State,” he argues about the government-granted monopolies that negatively affected our economy. He …show more content…
This would allow the government to limit the funding on prescription drugs research, as most of it creates copycat drugs. With the Genius Prize Funding, emphasis will be placed on treatments or cures for diseases or other medical breakthroughs. The incentives for this is other from their salaries form their companies and the funding of the research, scientists who make any discovery will be given up to $500,000 or more. For those who make major medical breakthroughs will be rewarded with millions or tens of millions of dollars depending on how big the breakthrough is. This would increase the research for well-needed drugs to treat or cure many diseases and would put United States of America the best country for medical research and cures for drugs. This would be a win-win-win-win situation, because everyone would win, excluding the money-hungry companies that overprice drugs. Not only researchers would win, the government, the U.S. economy and disease affected people, along with their friends and family, would all