Bloomberg Quicktake: Now published this video item, entitled “Covid-19 Vaccine Rollout Is Being Slowed by Too Many Government Rules” – below is their description.
For too many people, it’s a knee-jerk reaction: Blame the slow U.S. rollout of Covid-19 vaccines on too little central planning by the administration of President Donald Trump. Demand tighter control from the incoming administration of President Joe Biden. Limit the number of vaccination sites! Bring in the military! Put somebody in charge!
But the problem with the rollout of Covid-19 vaccines isn’t that no one is in charge. Far from the answer, tighter federal control would probably be a disaster. It would only amplify the problem.
By guaranteeing large purchases, the federal government gave manufacturers strong incentives to produce the vaccines. It was a smart move, and it worked. But now we’re experiencing the downside. Buying up the supplies and bestowing a vaccine monopoly on state governments blocked the normal distribution channels connecting producers with vaccinators.
Whether you’re laying fiber optic cable or delivering packages, that last mile is the tricky, labor-intensive, expensive part. To reach individuals, the system has to go from centralized operations to decentralized ones. That’s why we have retailers rather than ordering our toilet paper from Georgia-Pacific, and why they, in turn, often rely on distributors. “Cutting out the middleman” is a catchy slogan, but intermediaries make the system work.Bloomberg Quicktake: Now YouTube Channel
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