What Cures Are We Missing Out On?

Imagine a pill that eliminates the risk of cancer if you take it for 20 years. Such a breakthrough would become a blockbuster drug, making many billions in profit for the pharmaceutical company that discovered it, right?

In fact, it might never be developed, as research from MIT economist Heidi Williams illustrates. Williams was awarded a MacArthur Foundation “genius” grant yesterday for investigating how invisible incentives built into the economy affect the kinds of cures the medical industry produces.

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