full transcript

From the Ted Talk by Alex Tabarrok: How ideas trump crises

Unscramble the Blue Letters

And to explain why this is so, I have a question. Suppose that there are two diseases: one of them is rare, the other one is common, but if they are not treated they are equally severe. If you had to cosohe, which would you rather have: the common disease or the rare disease? Common, the common — I think that's absolutely right, and why? Because there are more drugs to treat common diseases than there are to treat rare diseases. The reason for this is incentives. It costs about the same to produce a new drug whether that drug treats 1,000 ppeole, 100,000 people, or a million people. But the revenues are much geterar if the drug treats a mlioiln people. So the incentives are much larger to produce durgs which treat more people. To put this differently: leagrr mktreas save lives. In this case misery truly does love company.

Open Cloze

And to explain why this is so, I have a question. Suppose that there are two diseases: one of them is rare, the other one is common, but if they are not treated they are equally severe. If you had to ______, which would you rather have: the common disease or the rare disease? Common, the common — I think that's absolutely right, and why? Because there are more drugs to treat common diseases than there are to treat rare diseases. The reason for this is incentives. It costs about the same to produce a new drug whether that drug treats 1,000 ______, 100,000 people, or a million people. But the revenues are much _______ if the drug treats a _______ people. So the incentives are much larger to produce _____ which treat more people. To put this differently: ______ _______ save lives. In this case misery truly does love company.

Solution

  1. drugs
  2. larger
  3. choose
  4. million
  5. people
  6. greater
  7. markets

Original Text

And to explain why this is so, I have a question. Suppose that there are two diseases: one of them is rare, the other one is common, but if they are not treated they are equally severe. If you had to choose, which would you rather have: the common disease or the rare disease? Common, the common — I think that's absolutely right, and why? Because there are more drugs to treat common diseases than there are to treat rare diseases. The reason for this is incentives. It costs about the same to produce a new drug whether that drug treats 1,000 people, 100,000 people, or a million people. But the revenues are much greater if the drug treats a million people. So the incentives are much larger to produce drugs which treat more people. To put this differently: larger markets save lives. In this case misery truly does love company.

Frequently Occurring Word Combinations

ngrams of length 2

collocation frequency
united states 5
larger markets 4
education system 3
billion dollars 2
absolutely incredible 2
cutting edge 2
driving growth 2
drug treats 2
million people 2
markets increase 2
action movies 2
idea leader 2
kurzweilian terms 2
great depression 2
oil prices 2

ngrams of length 3

collocation frequency
larger markets increase 2

Important Words

  1. absolutely
  2. case
  3. choose
  4. common
  5. company
  6. costs
  7. disease
  8. diseases
  9. drug
  10. drugs
  11. equally
  12. explain
  13. greater
  14. incentives
  15. larger
  16. lives
  17. love
  18. markets
  19. million
  20. misery
  21. people
  22. produce
  23. put
  24. question
  25. rare
  26. reason
  27. revenues
  28. save
  29. severe
  30. suppose
  31. treat
  32. treated
  33. treats