Even more insane is that a company that makes purely luxury products has the largest market cap in what everyone has been touting as a "great recession".
There is no recession among the customers for luxury goods. Our system is designed so that there can never be one.
Our system is not designed so much as steered by those with the most capital. If it is profitable to create a recession for luxury goods, there will be one. There is more money in the system than has ever existed in human history, and production has never been higher.
That's why we currently rely on private companies to make the decisions on who is a good research and who is a bad researcher when a company in total only makes two or three really profitable drugs every decade.
This is historically false. Oncology is currently the biggest money maker for the pharmaceutical industry, but the field didn't exist before the government established the NCI. https://en.wikipedia.org/wiki/National_cancer_institute
What good is a ticket to the good life, if you can't find the entrance?
