Defending capitalism is a good idea, but if capitalism is only defended by idiots and cynics, it may not win the battle of opinion.
The history of the Sackler family is therefore worth the detour.
It illustrates what goes wrong when the public authorities are no longer able to supervise and regulate the market economy.
It was the fall of Enron in the early 2000s, which was the biggest bankruptcy in the history of Wall Street for voluntary concealment of an explosive debt.
Forty-five billion dollars flew away in a few months.
The audit firm Arthur Andersen, deemed jointly responsible, has disappeared.
This is the great lie of the subprimes in 2008, then of the Madoff scandal, etc.
Richard Sackler did everything to convince that the addiction effects had been overcome and that the drug was suitable for a wide audience
Patrick Radden Keefe
These stories are inherent in a system whose deviations end up being corrected despite everything, albeit at a high price.
But the scandal of the pharmaceutical company Purdue Pharma propels us into another dimension.
He did not harm shareholders, because the family company was not…
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