Thomas Philipson discusses a forthcoming study that calculates the immense economic value of eradicating cancer, estimating that eliminating the disease over a thirty-year period would be worth approximately $186 trillion to the American public. The conversation shifts from these staggering figures to the systemic barriers preventing such medical breakthroughs, specifically targeting the lengthy FDA approval process as a primary obstacle to innovation. Philipson argues that the government should focus strictly on regulating drug safety while allowing the private market and medical professionals to determine effectiveness through off-label use and real-world application.
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