The Importance of Innovation

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There are regulatory barriers on the test, but shouldn't have been there. Certainly the mentality in government and our profession was not around number one supply. Also, I just think the again, innovation, boring types of innovation by having everybody stay home from work is going to be crucial. So it was a miracle. There was a scientific miracle, incredible intellectual achievement of human beings to find out remarkably safe, not entirely remarkably safe way to protect people from this disease.

When there's no vaccine on the market, people will look for other ways to be safe, including school closures and the handwashing of groceries. Listen as economist Casey Mulligan of the University Chicago talks with EconTalk's Russ Roberts about the costs of delaying a vaccine, the hidden costs of FDA regulation, and what we learned and failed to learn about the Covid pandemic.