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The Economy

Discussion in 'Sports and News' started by TigerVols, May 14, 2020.

Page 175 of 462
  1. BTExpress

    BTExpress Well-Known Member

    Yeah, I've always semi-regretted not going that route.
     
    BTExpress, Jan 28, 2023
    #2089
  2. The Big Ragu

    The Big Ragu Moderator Staff Member

    I'd imagine that is particularly difficult in the pharmacy business.

    The way it should work: 1) You can't attract workers, so you have to raise pay, which then attracts more qualified workers. 2) You have to raise your prices to meet your higher expenses. 3) Depending on how elastic demand is, you calibrate those two things to find some equilibrium level.

    Of course. ... if you are dispensing drugs through a pharmacy, you can't raise prices and pass along the costs, because everything about your business is "regulated" by the mess we have made in this country, including the government essentially telling you what your margins are going to be without any regard for supply and demand dynamics, costs, etc.

    So the reality is that the way that they are actually running their business is probably more like: 1) They know what margins they are allowed to achieve, because it's all price fixed and they have to play within the rules that others set. 2) They work backward from those margins to provide only the service that they can give while taking that margin.
     
    Last edited: Jan 28, 2023
    The Big Ragu, Jan 28, 2023
    #2090
  3. The Big Ragu

    The Big Ragu Moderator Staff Member

    The Big Ragu, Jan 28, 2023
    #2091
  4. Regan MacNeil

    Regan MacNeil Well-Known Member

    I wonder what it’s like to view the world through the cold, antiseptic lens of pure capitalism.

    Actually, no I don’t. It sounds awful.
     
    Regan MacNeil, Jan 28, 2023
    #2092
    OscarMadison, dixiehack, FileNotFound and 1 other person like this.
  5. Driftwood

    Driftwood Well-Known Member

    The words supply and demand and margins belong nowhere in a conversation about pharmacies.
    There needs to be far more regulations on big pharma than there are.
    If you want to please your shareholders, raise the price on shaving cream and hand lotion.
    Life saving drugs aren't iPhones and flat screen TVs.
     
    Driftwood, Jan 28, 2023
    #2093
    2muchcoffeeman, OscarMadison, wicked and 2 others like this.
  6. Neutral Corner

    Neutral Corner Well-Known Member

     
    Neutral Corner, Jan 28, 2023
    #2094
  7. Neutral Corner

    Neutral Corner Well-Known Member

     
    Neutral Corner, Jan 28, 2023
    #2095
  8. Azrael

    Azrael Well-Known Member

    Azrael, Jan 28, 2023
    #2096
  9. WriteThinking

    WriteThinking Well-Known Member

    It has plenty to do with greed, although it is true that the pharmacy is mostly done, at least with regard to customer service, by 7 p.m. If I were Walmart, it's what I'd do. As far as lunches, all pharmacies treat meal times this way. I think it has to do with some law/rule -- there are many regarding pharmacy operations and things having to be locked up if there is not a certain amount of people working. In any case, pharmacies treat meal times like any other medical-related office/field, and just all go at once for a certain hour or two each day, with the facility closed during that time.

    Pharmacy tech work is actually something I'm considering doing lately, through the Walmart pharmacist/tech training program, because I'm thinking I should probably get into something a little less physical than my current work there.
     
    WriteThinking, Jan 28, 2023
    #2097
    TigerVols likes this.
  10. The Big Ragu

    The Big Ragu Moderator Staff Member

    You can't price fix the world with amorphous "regulation" without creating shortages and ultimately making people worse off. It's a reality. No matter how important the thing you have in mind is to a lot of people.

    Supply and demand ALWAYS belong in the conversation. It's puerile to insist otherwise, and the fact that it has become a predominant attitude for people who don't want to deal with reality is why we are making things worse for ourselves.
     
    The Big Ragu, Jan 28, 2023
    #2098
    justgladtobehere likes this.
  11. LanceyHoward

    LanceyHoward Well-Known Member

    The market for pharmacists is inelastic. A pharmacist ahs to have a license that can take years to get. Increasing pay in the short run does not increase supply because of the length of time necessary to become licensed. Also, the USA has made immigration more difficult. It is now harder for a pharmacist to immigrate to the United States and try to obtain a state license.

    My prediction is that prescriptions will start to be delivered like pizzas. Amazon is planning to sente the prescription business. There are new technologies that can increase the productivity of a pharmacist. Retail chains will have fewer, larger pharmacies then pay a driver $25 an hour to deliver the prescriptions.

    Pizza Huts restaurants have been disappearing for years as home delivery has taken over. I think CVS and Walgreen stores are going to start to die off also.
     
    LanceyHoward, Jan 28, 2023
    #2099
    Azrael likes this.
  12. Driftwood

    Driftwood Well-Known Member

    You tell 'em, bro.

    upload_2023-1-28_10-31-0.jpeg
     
    Driftwood, Jan 28, 2023
    #2100
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