I know that this will appear to be both overly simplistic and judgemental. So be it. I still believe that you can describe the state of the world today on the basis of three basic types of people. Here they are:
- Those who worship a God of Love
- Those who worship a God of Hate
- Those who worship God’s Creation(s). Continue reading
William Poundstone’s “Priceless” (2010) is an interesting and useful read for anyone who’s curious about the arcane science of behavioral decision theory. In application, this field of study is particularly useful in addressing questions regarding the both the psychology and, thus, the frequently debated “rationality of the market” (or lack thereof).
As a fundamental economic concept, the psychological underpinnings of market behavior remains one of the least understood and, yet, most critical factors driving the business cycle, and more often than not, public economic policy. Continue reading
Posted in Economic Analysis, Uncategorized, Unreality
Tagged absolute, anchoring, bias, coercion, fair value, irrational, perception, poundstone, power law, priceless, psychology, rational, self-interest, truth
Over the past several years, I have been repeatedly surprised to find that something I might have imagined to be a vibrant and living thing can change suddenly – or, rather, be revealed – to be something altogether dead, despite popular opinion to the contrary.
I can think of many personal examples, beginning, perhaps, with one of the nicest and oldest apple trees in our small orchard. It had fruited up nicely early this summer, only to fail utterly in the last week. Another dead soldier, taken mysteriously, it would seem, in it’s prime.
I might, if I were as delusional as, say, many of our leaders appear to be, start pinning on plastic leaves and fruit to preserve the appearance of life, rather than to dig up the corpse and burn it. Continue reading