South African AIDS Patent, economics homework help

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Wbaan R.

Economics

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U3: Discussion 1: South African AIDS Patent Question One of the goals of any economics teacher is to get their students to "think economically". Understanding that resources are scarce, individuals are faced with choices. Each choice involves an evaluation of alternative decisions; the alternative (next) decision not chosen is a benefit of that alternative foregone. Economists call the cost involved in decision making the opportunity cost. Using your understanding of opportunity cost, apply that knowledge to the following problem by posting a substantive paragraph answering the questions below and then on subsequent days, respond to two (2) postings of your classmates. In the March 2, 2001 Wall Street Journal there is an article about global pharmaceutical companies taking the South African government to court over patent infringement. Drug makers argue that their most precious commodity, patents, are at stake. Their solution: fight to overturn a law signed by Nelson Mandela when he was South Africa s president, which allowed South Africa to import cheap, generic versions of patented medicines, including powerful new treatments for AIDS, without the permission of the patent holder. Given this information, answer the question below: 1. Why would drug companies risk being branded "Scrooge-like" instead of wanting to help stem the spread of AIDS? Your substantive posting must reflect your understanding of the nature of the type of competition faced by the pharmaceutical industry. Therefore, GREED may not be used as part of your explanation. Post your comments about this problem for consideration by the discussion group. Try to confine your thoughts to characteristics of the market rather than being distracted by the character or the motives of the seller.
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Am through. If there is anything more, please let me know. Thanks so much.

Running head: THE PATENT WAR

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The Patent War
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Institutional Affiliation
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THE PATENT WAR

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In terms of policy, the drug industry is facing a hostile not only in South Africa but also
globally. On one hand, the industry want to be seen to b...


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