full transcript
From the Ted Talk by Alex Tabarrok: How ideas trump crises
Unscramble the Blue Letters
aglirht what about problems? What about a garet deopsrsien? Well let's take a look. Let's take a look at the Great Depression. Here is GDP per capita from 1900 to 1929. Now let's imagine that you were an economist in 1929, trying to forecast future growth for the United States, not knowing that the economy was about to go off a cfilf, not knowing that we were about to enter the greatest eoinmocc disaster certainly in the 20th century. What would you have predicted, not koniwng this? If you had based your prediction, your fsaeroct on 1900 to 1929 you'd have predicted something like this. If you'd been a little more optimistic — say, based upon the Roaring Twenties — you'd have said this. So what actually happened? We went off a cliff but we recovered. In fact in the second half of the 20th century growth was even higher than anything you would have predicted based upon the first half of the 20th century. So growth can wash away even what appears to be a great depression.
Open Cloze
_______ what about problems? What about a _____ __________? Well let's take a look. Let's take a look at the Great Depression. Here is GDP per capita from 1900 to 1929. Now let's imagine that you were an economist in 1929, trying to forecast future growth for the United States, not knowing that the economy was about to go off a _____, not knowing that we were about to enter the greatest ________ disaster certainly in the 20th century. What would you have predicted, not _______ this? If you had based your prediction, your ________ on 1900 to 1929 you'd have predicted something like this. If you'd been a little more optimistic — say, based upon the Roaring Twenties — you'd have said this. So what actually happened? We went off a cliff but we recovered. In fact in the second half of the 20th century growth was even higher than anything you would have predicted based upon the first half of the 20th century. So growth can wash away even what appears to be a great depression.
Solution
- depression
- alright
- economic
- cliff
- forecast
- great
- knowing
Original Text
Alright what about problems? What about a great depression? Well let's take a look. Let's take a look at the Great Depression. Here is GDP per capita from 1900 to 1929. Now let's imagine that you were an economist in 1929, trying to forecast future growth for the United States, not knowing that the economy was about to go off a cliff, not knowing that we were about to enter the greatest economic disaster certainly in the 20th century. What would you have predicted, not knowing this? If you had based your prediction, your forecast on 1900 to 1929 you'd have predicted something like this. If you'd been a little more optimistic — say, based upon the Roaring Twenties — you'd have said this. So what actually happened? We went off a cliff but we recovered. In fact in the second half of the 20th century growth was even higher than anything you would have predicted based upon the first half of the 20th century. So growth can wash away even what appears to be a great depression.
Frequently Occurring Word Combinations
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larger markets |
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education system |
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billion dollars |
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absolutely incredible |
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drug treats |
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markets increase |
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action movies |
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idea leader |
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kurzweilian terms |
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great depression |
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oil prices |
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larger markets increase |
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Important Words
- alright
- appears
- based
- capita
- century
- cliff
- depression
- disaster
- economic
- economist
- economy
- enter
- fact
- forecast
- future
- gdp
- great
- greatest
- growth
- happened
- higher
- imagine
- knowing
- optimistic
- predicted
- prediction
- problems
- recovered
- roaring
- states
- twenties
- united
- wash