the triangle model of social analysis by thinking through the role of ideology and institutions and their
Question:
the triangle model of social analysis by thinking through the role of ideology and institutions and their impact on individuals and communities. This is the topic and inforamtion needed Wealthy elites and corporations are favored in society through law and policy, making life more difficult for middle and working-class people. Politically speaking, this group leans towards the left, primarily due to humble upbringings, diverse background exposure, and empathy for struggling people. The issue of corporations holding excess power in government and society is prevalent in all places in the world. Each group member grew up in different parts of the world with various issues associated with each region, but the institutional privilege of the wealthy remains constant. This bias towards elites has far-reaching impacts on every aspect of life for the average person. For example, insulin prices have skyrocketed due to the United States' highly fragmented healthcare system. "Retail insulin prices (the amount one pays without insurance) have skyrocketed. Between 2007 and 2018, the cost of some insulin products has increased by more than 200%. People with little-to-no health insurance coverage have reported paying more than US$1000 per month when higher insulin doses are required" (Hirsch, 2022). Lawmakers are equally as responsible for this as greedy pharmaceutical and insurance companies. "As part of the Inflation Reduction Act, the Biden administration proposed a $35-per-month limit on insulin costs in the private market too, but the U.S. Senate rules official, known as the parliamentarian, decided that this cap did not comply with the budget reconciliation process" (Hirsch, 2022). This is a prime example of how the government favors corporate wealth over the well-being of its people. The incidence of diabetes in the United States exceeds 37 million individuals, so insulin is a massive revenue-generating opportunity. In addition, the capacity of wealthy elites and corporations to use their position and money to influence the regulatory process in favor of their interests' results in legislation that is unfavorable to the middle class and the working class. A further example may be seen in the pharmaceutical industry's practice of regulatory capture. The pharmaceutical industry has been thriving in its lobbying efforts to prevent the government from regulating the pricing of drugs. As a direct consequence of this, the cost of medication in the United States is much more expensive than in other countries. Following the latest medical and life science news, Take, for example, the oft-cited 2021 study by Rand that found, based on 2018 figures, drug prices in the U.S. were, on average, 2.56 times the drug prices in 32 other Organization for Economic Cooperation and Development countries." (Lily Ramsey, 2023) References Hirsch, I. B. (2022, September 1). Insulin pricing in the USA: the saga continues. Retrieved from The Lancet Diabetes and Endocrinology: https://www.thelancet.com/journals/landia/article/PIIS2213-8587(22)00251-0/fulltext Lily Ramsey, L. (2023, MAY 19). Are US prescription drug prices 10 times those of other nations? Only sometimes. Retrieved from News-Medical Life Sciences: https://www.news-medical.net/news/20230519/Are-US-prescription-drug-prices-10-times-those-of-other-nations-Only-sometimes.aspx#:~:text=Take%2C%20for%20example%2C%20the%20oft,high%2Dincome%2C%20developed%20nations.
Business Ethics A Stakeholder And Issues Management Approach
ISBN: 9781523091546
7th Edition
Authors: Joseph W. Weiss