What's as strong as steel, flexible as rope, and thinner than paper? Without it, you wouldn't have modern health care, travel, or technology. And yet, it's condemned by many. In this episode of Johan Norberg's New and Improved, Norberg sets the record straight on plastic.

Plastics are seen by many as a scourge of modern living. We can't dream of living without them, but they are thought to be a blight on our environment. And while their impact is problematic, we must weigh their incredible value and the challenges of dealing with them.

Even if Europeans and Americans completely stopped using plastics, it would not reduce annual plastic pollution in our oceans by even 1%. So perhaps innovation is the answer. Some companies are experimenting with organic plastic alternatives and seeing real progress.