John Cochrane on the Pandemic

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4.7 • 4.3K Ratings

🗓️ 22 February 2021

⏱️ 68 minutes

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Summary

Would the impact of the pandemic have been different if government and policymakers had been more open to more market-based responses and less committed to a top-down approach? Economist John Cochrane of Stanford University's Hoover Institution talks with EconTalk host Russ Roberts about the pandemic and the policy response. Cochrane believes outcomes would have been much better if governments, in the United States and elsewhere, had embraced approaches that relied more on market forces.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:06.4	I'm your host, Russ Roberts of Stanford University's Hoover Institution.
0:11.0	Our website is econtalk.org where you can subscribe, comment on this podcast, and find links
0:16.3	and other information related to today's conversation.
0:19.0	We'll also find our archives where you can listen to every episode we've ever done going
0:23.3	back to 2006.
0:25.5	Our email address is mailadycontalk.org. We'd love to hear from you.
0:32.1	Today is January 26, 2021.
0:34.4	And my guest is John Conchren of Stanford University's Hoover Institution.
0:38.2	This is John's sixth appearance on econtalk.
0:41.2	He was last here in September of 2016 talking about economic growth and changing the policy
0:47.0	debate.
0:48.0	I want to thank Listerins who voted in our survey of your favorite episodes of 2020.
0:51.6	That survey is now closed.
0:53.6	It's coming soon.
0:54.6	John, welcome back to econtalk.
0:56.8	That's a pleasure to be back anytime, Russ.
0:59.0	Our topic for today is vaccines and other issues surrounding the pandemic that are related
1:05.1	to pricing and spline demand.
1:08.5	You bravely argue that we should have taken and should in the future take a more free
1:14.0	market approach.
1:16.1	Let's start with testing for the virus and what went wrong there and why we should have
	...

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