It’s clear the agencies did a bad job, as expected, because they had perverse incentives. For instance, the FDA knows that if it approves something that works badly, it will be blamed. If it doesn’t approve something or it is slow to do so, most people won’t notice the invisible graveyard.
That said, it’s not clear to me whether making this a more open or democratic decision would have made it any better. Citizens are bad at long-term thinking, cost-benefit analysis, seeing the unseen, and so on. You’ve probably seen the surveys showing citizens were systematically misinformed about facts related to COVID and the vaccines.
Ideally we’d structure the bureaucracies’ incentives so that they get punished for the invisible graveyard, but it’s unclear how to do that. I’m really not sure what to do other than trying to streamline the process of approval or requiring that any drug approved in, say, Germany, the UK, Japan, and a few other countries is automatically approved here.
It’s clear the agencies did a bad job, as expected, because they had perverse incentives. For instance, the FDA knows that if it approves something that works badly, it will be blamed. If it doesn’t approve something or it is slow to do so, most people won’t notice the invisible graveyard.
That said, it’s not clear to me whether making this a more open or democratic decision would have made it any better. Citizens are bad at long-term thinking, cost-benefit analysis, seeing the unseen, and so on. You’ve probably seen the surveys showing citizens were systematically misinformed about facts related to COVID and the vaccines.
Ideally we’d structure the bureaucracies’ incentives so that they get punished for the invisible graveyard, but it’s unclear how to do that. I’m really not sure what to do other than trying to streamline the process of approval or requiring that any drug approved in, say, Germany, the UK, Japan, and a few other countries is automatically approved here.