Michael Munger on Free Markets
EconTalk
00:00
Balancing Innovation and Regulation
This chapter explores the complex relationship between property rights, moral obligations, and innovation, particularly in the context of the COVID-19 pandemic and vaccine development. It critiques the roles of government and market dynamics, emphasizing the potential pitfalls of regulation while advocating for a reevaluation of how public welfare decisions are made. Additionally, the chapter discusses the challenges posed by the FDA's drug approval processes, underscoring the tension between safety and the urgency for innovation.
Transcript
Play full episode
