Valeant Pharmaceuticals was a multinational specialty pharmaceutical company based in Canada. It grew rapidly through a series of mergers and acquisitions under the leadership of J. Michael Pearson. The company was involved in a number of controversies surrounding drug price hikes and the use of a specialty pharmacy for the distribution of its drugs, which led to an investigation by the U.S. Securities and Exchange Commission and caused its stock price to plummet more than 90 percent from its peak while its debt surpassed $30 billion. Wall Street short-sellers exposed a scam that regulators overlook: how Big Pharma gouges patients in need of life-saving drugs.
Moral psychology isn't always an easy thing to study. Experiments that actually puts people in what feels like a real scenario may get realistic results, but researchers must always balance the benefits of what we could learn with the safety and well-being of the people they study. Often what we learn from moral psychology experiments doesn't make humans look good. We are imperfect creatures. But the more we learn about why and how we make the moral choices that we do, the better we'll be able to tackle difficult questions in the future.
A single microscopic brain cell cannot think, is not conscious, but if you bring in a few more brain cells, and a few more, and connect them all, at a certain point, the group itself will be able to think and experience emotions and have opinions and a personality and know that it exists. How can such astonishing things be made from such simple ingredients? Well, answering that question means learning not only who we are but, more importantly, how we are. Today, using what neuroscientists know so far, we are going to make a town function like a brain, using people as neurons.
It all begins as a study on the psychology of prison life led by Stanford psychology professor Dr. Philip Zimbardo. 24 volunteers - 12 guards and 12 prisoners - have agreed to spend the next two weeks recreating life in a correctional facility. Normal people can become monsters, given the right situation, that's the standard narrative of the Stanford Prison Experiment, one of the most famous psychological experiments of all time. But what if the cause of its participants' cruel behavior wasn't what we've always been told?
Completely proving something can be difficult, if not impossible. So instead, we have the faith of the believer, the confidence interval of the scientist. What we think we know, we really only believe we know. On this episode of Mind Field, we are going to take a look at a kind of lie we tell ourselves. And we are going to use belief to turn a lie... into a truth.
In 1949, after decades of making wooden furniture and toys, Ole Kirk Christiansen's small factory in Billund, Denmark, moved to plastic and created the 'Automatic Binding Bricks', which would later be known as LEGO. When the company patented the tube system in 1958, LEGO became the dominant toy line worldwide throughout the 1960s and 1970s. When other competitors capitalized on the expiration of the company's patents in the 1980s, LEGO faced stiff competition until they reported their first loss in 1998. Poor business decisions with film licenses and the failure of the Jack Stone and Galidor lines brought LEGO to near-bankruptcy until Jørgen Vig Knudstorp took over the company and, by bringing it back to its roots, rejuvenated LEGO's profits. By the time The Lego Movie hit theaters in 2014, LEGO became the largest toy franchise in the world.
Wall Street short-sellers exposed a scam that regulators overlook: how Big Pharma gouges patients in need of life-saving drugs.