In this economic speech, economist Alex Tabarrok explores the potential of ideas in a world that operated with one single market. Beginning his speech with a discussion on how much the world has become interconnected and intertwined in everything from politics, trade, the environment and technology, he explains how cutting-edge ideas are being shared at an exponential rate.
He argues that the greater function of ideas today is to drive growth on a global scale. Trade and globalization are more important today than ever before, and ideas will be what feeds their growth. Stating, "an apple feeds one man, but an idea can feed the entire world," he explains how one large market for the entire world has the potential to save millions of lives. To support this statement, he shares that if China and India were as rich as the United States is today, the market for cancer drugs would be eight times larger.
This economic speech is both inspiring and informative, showcasing the tremendous power of ideas today.