Opinion | From the New Deal to the raw deal4 min read 01 Oct 2018, 11:01 PM IST
Capitalism, tamed by the New Deal for nearly five decades after the Great Depression, has gone back to its robber-baron ways in the last three decades, with the collusion, aid and capture of political parties on the economic left and right
According to a report in the Financial Times, published about two-and-a-half weeks ago, Nirmal Mulye, the chief executive officer (CEO) of Missouri, US-based Nostrum Laboratories, defended the increase in the price of a bottle of Nitrofurantoin from $474.75 to $2,392. This drug treats bladder infections. It is listed as an essential medicine by the World Health Organization. He said that it was his “moral requirement" to sell the product at the highest price and that shareholders had to be rewarded. At the minimum, his comments were politically incorrect and, at worst, they were morally wrong.
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