Friday, March 5, 2021

$10 Billion Operation Warp Speed Worth $1.8 Trillion To US Alone For Saving Lives And Accelerating Return To Normalcy

From supply and demand (in that order), Tuesday, March 2, 2021, "How Chicago Economics is Helping End a Pandemic: Interview with Murphy, Philipson, Topel" by Casey Mulligan:
Covid-19 has disrupted much of human life, but Operation Warp Speed has drastically mitigated the costs of the virus. The $10 billion federal program launched in April 2020 encouraged and accelerated the development and mass manufacturing of COVID-19 vaccines, streamlined Federal approval for vaccines and their manufacture, and provided Federal funds for private vaccine research and advance-purchase orders. COVID-19 vaccines are currently being administered to the general public at least six months earlier than expected. Vaccinating the population against COVID-19 six months earlier was worth about $1.8 trillion to the U.S. alone in terms of lives saved and accelerating the return to normal schooling, work, socializing, etc. (Mulligan and Philipson 2020).
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