the cornerstone of the scientific method is the the randomized experience or we decide whether the fda should approve a particular drug. we go and randomized experiments that we see how the drug worked in a double-blind experiment relative to a placebo, and were able to just compare people who got through to the people who were not. they were randomized. the difference in outcomes tells whether not that drug works. as an economist, as much as i would love to get aroun carry tt out, i would love to know, to present to reduce crime? but it's not like the nsf is going to allow me to go out and run a randomizes that why lock up a bunch of people in one state and irately released people in another state, and it's what happens. so in that kind of a world economists have had to use what i call accident experiments to figure out the answer. in other words, i look

pfizer was alleged to have deceptively marketed drugs for purposes which were not approved by the fda. those actions put patients at risk, cause heart attacks, and death. in addition, allegations of kickbacks to doctors. the subsidiaries pled guilty. we found multiple year schemes to advance the marketing of drugs for purposes which had not been approved by the fda. host: a company like pfizer or eli lilly, do they set out in their board rooms to commit fraud? guest: i do not thing we have ever had someone be as explicit as say it is a crime and i'm looking forward to committee it, but they clearly understand the parameters of the law. in the case of pfizer, they understand that the fda says you cannot market this drug for acute pain, and they went ahead and did it anyway because it increase market share in profits. i would say that executives at pfizer knew what they were doing was illegal. host: before we go to the colors, are the lo guest: they are very sophisticated. it is safer than dealing crack cocaine. we need more resources devoted to combating -- combating fraud problem. hos

pfizer was alleged to have deceptively marketed drugs for purposes which were not approved by the fda. those actions put patients at risk, cause heart attacks, and death. in addition, allegations of kickbacks to doctors. the subsidiaries pled guilty. we found multiple year schemes to advance the marketing of drugs for purposes which had not been approved by the fda. host: a company like pfizer or eli lilly, do they set out in their board rooms to commit fraud? guest: i do not thing we have ever had someone be as explicit as say it is a crime and i'm looking forward to committee it, but they clearly understand the parameters of the law. in the case of pfizer, they understand that the fda says you cannot market this drug for acute pain, and they went ahead and did it anyway because it increase market share in profits. i would say that executives at pfizer knew what they were doing was illegal. host: before we go to the colors, are the loaws too vagues? guest: the criminal element those very quickly parade organized criminals have come into this arena. it's a lot safer than dealing crack

the fda hasn't licensed it. you wanted to make drugs save and that's my concern, i'm sure everyone's concern on this panel. are we missing something here? is it something we should look at closer? >> it's something we should look at closely and i believe that the fda is doing this in good faith manner. i think when you think about who we are targeting for this vaccine, the bulk of the data for using this adjuvants vaccine and occurs with the elderly, that's not his targeted in this vaccine so we're just beginning to get the kind of data would be associated with kids. but i think the larger question is we have so much maxine hesitancy in this country. so much inaccurate knowledge about whether vaccines are safe and particularly whether this blue vaccine is safe. to add onto emergency use application, a new element that may, indeed, be saved could well have undermined the efficacy of this campaign. >> so this one has been around for since 97 or so and been approved. would it be prudent to maybe leave the decision

pfizer was alleged to have deceptively marketed drugs for purposes which were not approved by the fda. those actions put patients at risk, cause heart attacks, and death. in addition, allegations of kickbacks to doctors. the subsidiaries pled guilty. we found multiple year schemes to advance the marketing of drugs for purposes which had not been approved by the fda. host: a company like pfizer or eli lilly, do they set out in their board rooms to commit fraud? guest: i do not thing we have ever had someone be as explicit as say it is a crime and i'm looking forward to committee it, but they clearly understand the parameters of the law. in the case of pfizer, they understand that the fda says you cannot market this drug for acute pain, and they went ahead and did it anyway because it increase market share in profits. i would say that executives at pfizer knew what they were doing was illegal. host: before we go to the colors, are the loaws too vagues? guest: the criminal element those very quickly parade organized criminals have come into this arena. it's a lot safer than dealing crack