3.) It’s been argued that patents incentivize the development of new technologies. Suppose patents for needed treatments were waived, and more people received them. Would this be worthwhile even if medical progress wasn’t as fast?
The problem with developing new medicines is the time it takes to study and test the product. We saw that when it came to the COVID-19 vaccine with the needed signatures from the government and medical organizations. The process can be approved with the constant study of new technologies over time. However, as in anything, someone will lose, becoming the ultimate ethical dilemma.
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3.) It’s been argued that patents incentivize the development of new technologies. Suppose patents for needed treatments were waived, and more people received them. Would this be worthwhile even if medical progress wasn’t as fast?
The problem with developing new medicines is the time it takes to study and test the product. We saw that when it came to the COVID-19 vaccine with the needed signatures from the government and medical organizations. The process can be approved with the constant study of new technologies over time. However, as in anything, someone will lose, becoming the ultimate ethical dilemma.