Re: Interesting RP SC decision

On Fri, 06 Jul 2007 15:55:04 -0700, Cheeze <csmarasigan@xxxxxxxxx>
wrote:

On 6 Jul, 07:11, Boracay Bill <boracayb...@xxxxxxxxx> wrote:
Seen in today's Manila Times:

---begin snippets
The Supreme Court has ruled to reject the petition of a group of
drugstore owners seeking to halt the operation of the law giving a 20-
percent discount to senior citizens on the price of medicines and
medical services.
...
The High Court's decision reaffirms the principle that the public good
prevails over individual property rights.
...
"Moreover, the right to property has a social dimension. While Article
XIII of the Constitution provides the precept for the protection of
property, various laws and jurisprudence, particularly on agrarian
reform and the regulation of contracts and public utilities,
continuously serve as a reminder that the right to property can be
relinquished upon the command of the State for the promotion of public
good."
...
---end snippets

For the entire piece, seehttp://www.manilatimes.net/national/2007/july/06/yehey/opinion/200707...

I actually have a sis-in-law whose a pharmacist who explained why that
20% discount is ridiculous. I wonder if anybody realized that right
now, there are pharmacies that only have a 5-10% mark up on their
prices. Giving a 20% discount to anybody would mean the pharmacy
would be paying some people to buy their goods!!! <groan>

Here is why whenever the "Supreme Court" or any branch of government
decide against free market for the sake of the public good should be
careful. Because of this law to cater to senior citizens (what
percentage are they of the pupulation, I wonder?) a pharmacy would
need to give a mark-up of about 25% of their prices just to make
money. Boo-hoo for the majority, wouldn't you say?

If the pharmacies want to get around this, they could simply increase
their marked prices by 20%, and then give *everyone* a 20% discount.

Chris
.

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