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" ... Of course, the placebo effect is ruinous for medicine and pharma. It ruins the smooth trajectory of drug development pipeline, weakens the effect of promising drugs, and is perceived as an overall nuisance. Only if we stick to the orthodoxy, though. Why don't we flip the proposition on its head and instead see the placebo effect as a net opportunity? If we took the effort to scientifically decipher the placebo effect, we'd know when just a sugar pill could do the trick. Heal thyself, indeed! Cost savings aside, so many of us would be saved as well from toxic side-effects that are part and parcel of so many drugs. Scientific understanding of the placebo effect could potentially revolutionize medicine, make it much more effective, less costly, safer, and more precise. In fact, promise of so-called precision medicine is never likely to be fulfilled unless and until we understand how placebos work. Were I a multi-billionaire looking to fund a pet project likely to leave an immeasuarble lasting legacy, I'd do what NIH and other funding agencies currently don't do and figure out a way to sustainably fund an interdisciplinary research ecosystem to understand the placebo effect. All of humanity, not just some group here or there, would benefit. ... "