I am often asked, “what can the government do to solve x problem?” My stock answer is, get out of the way. It’s not always right, but it’s often a good start.
So John ‘Grump Economist’ Cochrane concludes in a post excoriating the government measures delaying the roll-out of Covid vaccination in the US.
Undergraduates of my era met with the idea that that stresses brought change to sclerotic coalitions of interests: that is the centre of Mancur Olson’s Rise and Decline of Nations. Are the stresses of Covid – an event Boris Johnson has described as the biggest crisis in his lifetime (born in 1964 ) – sufficient to overcome the Baptists (medical scientific establishment) and Bootleggers (incumbent pharmaceutical companies who gain from the absence of competition) sufficient to overcome this logjam? I suppose we’ll know if the UK, US and we are able to move about freely by May. I’m not optimistic.