Economics Explains Why Vaccinations Are Hard
February 9, 2021
When your roof is in flames, you don’t shop for the most convenient and low-priced fire department. Others already made that choice for you.
This happens because your burning house doesn’t only affect you. The public interest demands all fires be extinguished before they spread. Quick, efficient firefighting is a
public good.
Stopping contagious diseases is another public good. Now we have COVID-19 vaccines that, while imperfect, are generally safe and effective. We should deliver them with the same urgency with which we send fire trucks to every blaze.
Economics explains why we aren’t… and it’s not just the cost.