Dean Baker – News for Bill Gates: Capitalism Is Still Capitalism Without Patent Monopolies

Like Donald Trump, Bill Gates apparently has a hard time understanding some things. The NYT had a major article on Gate’s role in developing vaccines against the coronavirus. At one point, the piece notes critics of Gates, who complain about how he has promoted patent monopoly financing of the development of vaccines and drugs, which allow these items to sell at prices that can be many thousand percent above the free market price.

The piece then presents Gates’ rejoinder:

“This capitalism thing — there actually are some domains that actually works in, …. North Korea doesn’t have that many vaccines, as far as we can tell.”

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