Institutions are crucial for our society to be successful because it is a social and academic construction of a community in that institutions help us interact with each other and promote scientific research and findings, regardless of the cultures and values that each individual believes in; without institutions, there would be no order and stability in society. However, in the essay “Rent Seeking and the Making of an Unequal Society” by Joseph Stiglitz, Stiglitz disagrees by arguing that institutions actually prevent scientific research to evolve into scientific discoveries because monopolists and dominant forms such as Microsoft suppress innovation; however, this statement is unconscionable because since Microsoft Corporation has evolved through the years, it has inspired other corporations such as Apple to compete with Microsoft by advancing its own applications. In addition, in the essay “The Mega-Marketing of Depression in Japan” by Ethan Watters, Watters contradicts the roles of institutions by claiming that institutions such as pharmaceutical companies use flawed scientific research to support a drug in order to achieve its one goal: acquire money. Nevertheless, there is a complication with this argument. If this drug were to be supported by flawed scientific research, why is this drug still in the market today? It must have gone through FDA tests and because there was a difference between the placebo group and the experimented group, the drug is still in the market, thus promoting scientific research on the drug. In both essays, although both Stiglitz and Watters deny the positive effects the institutions have on scientific research, institutions actually promote scienti...
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...le have been competing by advancing their applications. Also, Watters advocates this assertion by claiming that institutions such as pharmaceutical companies use flawed scientific research to support a drug in order to achieve financial goals. Nevertheless, if the research were indeed to be flawed, then the FDA would have prohibited the drug from remaining in the market; in addition, people with depression still use this drug as medication. Finally, though both Stiglitz and Watters claim that giving too much power to a few will hinder scientific research, giving equal power to all the institutions will cause too much competition in United States; as a result, all the institutions will compete and argue with each other, causing the hindrance of scientific research. Evidently, Stiglitz and Watters’ supporting information is not cogent enough to support their argument.
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