Many people have supported mass testing plans. Why do you think they're not getting more support? Because the benefit cost ratio, if you can pull it off, seems to be quite high. I've been using a model to trin figure out what is actually the the value of an additional test relative to its cost. It's just very clear that a test is worth a lot more than than it would cost the cost us to provide. If we spent about twice as much on tests as we spend on soda, we could have all the tests we need - twenty three million tests a day....
Paul Romer makes his second appearance to discuss the failings of economics, how his mass testing plan for COVID-19 would work, what aspects of epidemiology concern him, how the FDA is slowing a better response, his ideas for reopening schools and Major League Baseball, where he agrees with Weyl’s test plan, why charter cities need a new name, what went wrong with Honduras, the development trajectory for sub-Saharan Africa, how he’d reform the World Bank, the underrated benefits of a culture of science, his heartening takeaway about human nature from his experience at Burning Man, and more.
Read a full transcript enhanced with helpful links, or watch the full video.
Recorded May 13th, 2020 Other ways to connect