The Economics of Vaccine Development and Deployment

COVID-19 serves as a warning of what we are likely to face with future pandemics. What incentives can governments use to accelerate vital vaccine development and deployment? Are there differences in the incentives that would help combat something like an annual flu, and a raging pandemic? How do the benefits of vaccinations to individuals fall short of the benefits to society at large? To discuss these issues, Michael Klein interviews Michael Kremer, University Professor at the University of Chicago, and the 2019 co-recipient of the Nobel Prize in Economics.