> For example, the FDA is generally agreed to have dropped the ball by dragging its feet on approving covid tests. I don't think profit motive or regulatory cap

> For example, the FDA is generally agreed to have dropped the ball by dragging its feet on approving covid tests. I don't think profit motive or regulatory capture explain that. What does? I'm no fan of over-regulation, but the FDA finds itself in an impossible situation: approve tests quickly to slow the spread of Covid, only to later find that the tests don't work, or test the products rigorously, while patients suffer. It's a very difficult balance to strike, and I would argue they've done as good a job as one could hope.