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EconTalk

Casey Mulligan on Vaccines, the Pandemic, and the FDA

EconTalk

Library of Economics and Liberty

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4.74.3K Ratings

🗓️ 22 May 2023

⏱️ 68 minutes

🧾️ Download transcript

Summary

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.

Transcript

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0:00.0

Welcome to Econ Talk, Conversations for the Curious, part of the Library of Economics and Liberty.

0:07.8

I'm your host, Russ Roberts of Shalem College in Jerusalem and Stanford University's Hoover

0:12.7

Institution.

0:13.7

Go to econtalk.org where you can subscribe, comment on this episode and find links down

0:18.6

the information related to today's conversation.

0:21.4

You'll also find our archives with every episode we've done going back to 2006.

0:26.8

Our email address is mail at econtalk.org.

0:30.3

We'd love to hear from you.

0:37.8

Today is April 20th, 2023.

0:39.6

My guest is economist Casey Mulligan of the University of Chicago.

0:44.0

This is Casey's third appearance on econtalk.

0:46.0

He was last year in October 2016 talking about Cuba.

0:50.6

Our topic for day is drug regulation, including Operation Warp Speed, which was the government's

0:56.4

program to expedite and encourage the creation and distribution of COVID vaccines.

1:02.8

Casey, welcome back to econtalk.

1:04.8

Hi, Russ.

1:06.9

So our conversation today is loosely based on recent article of years, last year, in

1:10.8

the Journal of Law and Economics.

1:12.2

It's part of a special issue in honor of Sam Pelsman.

1:16.2

The title of your article was Pelsman Revisited, quantifying 21st century opportunity costs

1:22.4

of food and drug administration regulation.

1:26.6

The Food and Drug Administration also goes by the acronym, the abbreviation FDA.

...

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