> without the contribution of the pharma sector. In other words, the company has almost single-handedly rescued the country from a recession.
Fallacious thinking. It entirely ignores that labor is a market. If Novo Nordisk didn't exist, the labor would be used elsewhere, and who's to say that if used elsewhere it wouldn't be more profitable?
For all we know Novo Nordisk drastically under performs given the inputs and is actually holding the country back.
Disappointing seeing PR clap trap like this uncritically repeated by NPR.
If other companies had more profitable uses for the labor than Novo, then surely they'd pay more for the labor, and the workers would take those jobs instead?
It's a medication and so it has a limited patent protection window. The labor is built on an artificial monopoly. So, short term, you could be correct, long term, we cannot make any meaningful assertions.
In particular, the assertion that Novo Nordisk single handedly saved the country from recession is ridiculous.
Fallacious thinking. It entirely ignores that labor is a market. If Novo Nordisk didn't exist, the labor would be used elsewhere, and who's to say that if used elsewhere it wouldn't be more profitable?
For all we know Novo Nordisk drastically under performs given the inputs and is actually holding the country back.
Disappointing seeing PR clap trap like this uncritically repeated by NPR.