The Importance of Advanced Clinical Trials

Economists have come to understand over the decades is that sometimes you need to do something, sounds very non-economic. So people often talk about the importance of the rule of law for economic development. Well-thought-through and well-protected legal rules are incredibly important to this kind of innovation. This creates a lot of social value, but that's inextricably linked to the incentives people have to make financial and human capital investments to get those innovations to occur.