Have you ever wondered about how much your life is worth? Economists have always tried to give monetary value to people’s lives. Nowadays, this issue gets even hotter, since policymakers have to take into account all costs and benefits deriving from shutting down the world economy: when will the benefits of saving lives by ‘flattening the curve’ of infected individuals be outweighed by its costs?
Ideas are expensive. They are generated by brilliant minds, who do not simply appear out of nowhere. You need a stable and favourable economic and financial environment. You need social awareness about the importance of breakthrough innovations. And last but by no means least, you need luck.