The way this should work out in capitalistic theory is that those affected by panic disorder should fund the research into its cure.
> Economically speaking, finding a more effective to regrow hair in bald men would probably be a lot more profitable than finding a cheap cure for any number of diseases ravaging Africa. Doesn't mean it's more important.
The problem with this line of reasoning is the implicit assumption that it's your job to decide what's important. (BTW, you could probably send the money you spend on internet access each month to Africa, and save a child/mo. Be sure to reconcile that fact with your world view)
Many of the problems with pure capitalism stem from the fact that in practice, things don't work out as well as in theory, often because people aren't rational and information isn't symmetric. You should still try to understand how it's supposed to work.
> Economically speaking, finding a more effective to regrow hair in bald men would probably be a lot more profitable than finding a cheap cure for any number of diseases ravaging Africa. Doesn't mean it's more important.
The problem with this line of reasoning is the implicit assumption that it's your job to decide what's important. (BTW, you could probably send the money you spend on internet access each month to Africa, and save a child/mo. Be sure to reconcile that fact with your world view)
Many of the problems with pure capitalism stem from the fact that in practice, things don't work out as well as in theory, often because people aren't rational and information isn't symmetric. You should still try to understand how it's supposed to work.