~ WTTE ~ Welcome To The Entanglement

~ E-AWBSTBMAMC-TIAGDBHWIOSTA-A-HTADA ~ Entanglement – As We Build Systems That Become More And More Complicated – There Is A Greater Divergence Between How We Intend Our Systems To Act – And – How They Actually Do Act

~ WCSAOIRTSTAA-OTHBDF-TCCBALITFOTU ~ While Complicated Systems Are Often Incredibly Robust To Shocks That Are Anticipated – Ones They Have Been Designed For – Their Complexity Can Be A Liability In The Face Of The Unanticipated

~ WATUACS-WMDTPR-OLOD-AWTLAI ~ When Attempting To Understand A Complex System – We Must Determine The Proper Resolution – Or Level Of Detail – At Which To Look At It

~ COUP ~ Complications Of Unknown Purpose

~ WWIRTATCOAOKTA ~ We Will Increasingly Require The Ability To Connect One Area Of Knowledge To Another

~ WHWT-WMHHWR-A-CWF ~ Walking Humbly With Technology – We Must Have Humility Without Reverence – And – Curiosity Without Fear

~ BATPUTHOTIJIOE;IHIUAUPTOT ~ Being Able To Peek Underneath The Hood Of Technology Isn’t Just Interesting Or Educational; It Helps Inoculate Us Against Unhealthy Perspective Toward Our Technologies


~ DYR:WIDYE?-WDYWTH? ~ Define Your Roots: Which Ideas Drive You Emotionally? – Whom Do You Want To Help?

~ NYI:S-S-I-E ~ Name Your Ingredients: Skills – Strengths – Ideas – Experiences

~ CYWM:E-E-F ~ Choose Your Work Mode: Employee – Entrepreneur – Freelancer

~ CAI:WDYWTBTLATSOYC? ~ Create And Innovate: What Do You Want To Bring To Life At This Stage Of Your Career?

~ STF:D-U-M-YFAA ~ Surf The Fear: Define – Understand – Manage – Your Fears And Anxieties

~ FYT:P-M-C ~ Form You Team: Peers – Mentors – Collaborators

~ DWSMTY:S-R-M-G ~ Define What Success Means To You: Specific – Relevant – Meaningful – Goals

~ SYS:TIATTCACS ~ Sell Your Story: Tie It All Together To Create A Compelling Story


~ BOW-FTTTTYST ~ Body Of Work – Finding The Thread That Ties Your Story Together

~ NOILOFYCA-YM-FM-LO-SY-A-PF-F/C/UD-YMDASOSTMYATEAIIAMWAP ~ No One Is Looking Out For Your Career Anymore – You Must – Find Meaning – Locate Opportunities – Sell Yourself – And – Plan For – Failure / Calamity / Unexpected Disasters – You Must Develop A Set Of Skills That Makes You Able To Earn An Income In As Many Ways As Possible

~ WYVYCTTLO-AO-ABOW-Y-KTDRTCYEWALE ~ When You View Our Career Through The Lens Of – An Over-Arching Body Of Work – You – Know The Deeper Roots That Connect Your Entire Work And Life Experience

~ Y-BOW-IEY-C-C-A-A-I ~ Your – Body Of Work – Is Everything You – Create – Contribute – Affect – And – Impact

~ I-WSTC-A-A-M-A-P-WHAPBOW ~ Individuals – Who Structure Their Careers – Around – Autonomy – Mastery – And – Purpose – Will Have A Powerful Body Of Work

~ SAWAYNEM-AYGTP-CCTYBDTSMCAJITW ~ Smiling And Waving At Your Neighbor Every Morning – As You Get The Paper – Can Contribute To Your Bigger Desire To See More Civility And Joy In The World

~ IAPTCTY-BOW-IYWIACIALC ~ It’s Also Possible To Contribute To Your – Body Of Work – If You Work In A Cubicle Inside A Larger Company

~ VYLAABOWINAS-TG-YWTFO-M-SD-CAM-TINORAFE ~ Viewing Your Life As A Body Of Work Is Not A Short-Term Game – You Want To Focus On – Meaning – Skill Development – Craft And Mastery – There Is No One Right Answer For Everyone

~ WY?-WUPOEDYBTTW? ~ Why You? – What Unique Perspective Or Experience Do You Bring To This Work?

~ IIWT-EIIFM? ~ Is It Worth Trying – Even If It Fails Miserably?

~ WMTIODR-T-P-B-C-TPTFFY-BOW-TKYSASWYFCIYCARYWIIITKMTA ~ We Must Tap Into Our Deepest Roots – The – Purpose – Beliefs – Convictions – That Provide The Foundation For Your – Body Of Work – They Keep You Strong And Stable When You Face Challenges In Your Career And Remind You Why It Is Important To Keep Moving Through Adversity

~ MINEOADTMITTTCT ~ Money Is Not Enough Of A Driver To Make It Through The Truly Challenging Times

~ UI-R-S-S-E-V-S ~ Your Ingredients – Roles – Skills – Strengths – Experience – Values – Scars

~ ITNWOW-AEWDCBBDIP ~ In The New World Of Work – Almost Everything We Do Can Be Broken Down Into Projects

~ TWOWINS-YCCOAOWMTDOCAFS ~ The World Of Work Is Not Stable – You Cannot Count On Any One Work Mode To Deliver Ongoing Creative And Financial Stability

~ ITNWOW-OATCAP-BOW-IWWDOOE ~ In The New World Of Work – Our Ability To Create A Powerful – Body Of Work – Is What Will Determine Our Ongoing Employability

~ YCWWTYS-AIOTTAS-YHTGIOOYHAITW ~ Your Creative Work Will Tell Your Story – And In Order To Tell A Story – You Have To Get It Out Of Your Head And Into The World

~ ETAOYC-A-E-M-T-A-P-A ~ Enjoy The Adventure Of Your Craft – An – Explosive – Messy – Terrifying – And – Passionate – Adventure

~ DAMM-S-Y-BOW-WBADOT-IVIDBYCTCIYSADYI ~ Develop A Mastery Mind-Set – Your – Body Of Work – Will Broaden And Deepen Over Time – Its Value Is Determined By Your Commitment To Continually Improve Your Skills And Deepen Your Ingredients

~ LP ~ Learn Patience

~ PTB ~ Practice The Basics

~ ATSOYM-GWIB-W-GM-B-P-WCAMAWTDAYCAWYD ~ Appreciate The Source Of Your Materials – Great Work Is Built – With – Great Materials – By – People – Who Care As Much About What They Do As You Care About What You Do

~ DE-OSIR-TTTTFOEWC-LTYS-LTYD ~ Deconstruct Everything – Often Success Is Random – Take The Time To Figure Out Exactly Which Conditions – Led To Your Success – Led To Your Downfall

~ SB-YMPYCWT ~ Set Boundaries – You Must Protect Your Creative Work Time

~ MYS-H-ROT-S-C-O-F-O-YPS-TIWR ~ Make You Space Holy – Regardless Of The – Size – Cost – Or – Fanciness – Of – Your Physical Space – Treat It With Reverence

~ CYV-DYI ~ Cultivate Your Voice – Develop Your Ideas

~ SYP-C-DTIP-A-DLIGTYH-KYFOHYP ~ Swallow Your Pride – Criticized – Don’t Take It Personally – Accolades – Don’t Let It Get To Your Head – Keep Your Focus On Honoring Your Profession

~ PTTB-ATA ~ Punch Through The Bag – Always Think Ahead

~ WL-DR-I ~ When Imitated – Don’t Retaliate – Innovate

~ TLAS-YMLTGCWPYWITWAEAFFAOP-S-CAWH-TI-OWC-AW-T-R-O-EC-UYAS ~ Think Like A Scientist – You Must Learn To Get Comfortable With Putting Your Work In The World And Evaluating All Feedback From An Objective Perspective – Specifically – Create A Working Hypothesis – Test It – Observe With Curiosity – Ask Why – Tweak – Retest – Observe – Et Cetera – Until You Are Satisfied

~ LFM ~ Look For Models

~ T-20X-R:YHTS-20T-MS-TYTIRON-TMTH ~ The – 20X – Rule – You Have To Sow – Twenty Times – More Seeds – Than You Think Is Realistic Or Necessary – To Make Things Happen

~ BY-BOW-IAM-TFI ~ Building Your – Body Of Work – Is A Marathon – Train For It

~ CWSU-TAOCIWSUF-WGOLM-A-IIWWPU-BOOPACPTG ~ Creating Will Save Us – The Act Of Creating Is What Sets Us Free – What Gives Our Life Meaning – And – It Is What Will Put Us – Back On Our Personal And Collective Path To Greatness

~ FII ~ Fear Is Inevitable

~ VAAAMOG ~ View Adversity As A Means Of Growth

~ DYF-YFSCIWYMTAD-STF-SDAPTEITRPOYB-WAYAO?-WAYAOI?-WDYNTKTRTF? ~ Diagnose Your Fear – Your Fear Shares Critical Information With You Multiple Times A Day – Surf The Fear – Slow Down And Process The Emotion In The Rational Part Of Your Brain – What Are You Afraid Of? – Why Are You Afraid Of It? – What Do You Need To Know To Reduce The Fear?

~ WTDWYADERANIH-IYCCTC-YNTCTWYTATC-EYIOWP ~ What To Do When You Are Doing Everything Right And Nothing Is Happening – If You Can’t Change The Circumstances – You Need To Change The Way You Think About The Circumstances – Expand Your Idea Of What’s Possible

~ IYADSFTATOQ-ANFI-TAAQ ~ If You Are Desperately Searching For The Answer To One Question – And Not Finding It – Try Asking Another Question

~ FOY-‘WS’~ Flip On Your – “Winner Switch”

~ TKTGGH-ITMTR-CAB ~ The Key To Getting Great Help – Is To Make The Request – Clear And Brief

~ AFH-A-LH-OACB-ITBTYCDFY-BOW ~ Asking For Help – And – Living Help – On A Consistent Basis – Is The Best Thing You Can Do For Your – Body Of Work

~ S-EMLWIALI ~ Success – Enjoying My Life While I Am Living It

~ MYSUYOSF-CYA-EITADTYP ~ Measure Your Success Using Your Own Success Framework – Celebrate Your Accomplishments – Even If They Are Different Than Your Peers

~ TTCSFCS:TSYTY/TSYTO ~ The Two Critical Stories For Career Success: The Story You Tell Yourself / The Story You Tell Others

~ OYGACAESTTY-YNTWOTSTWRAIO ~ One You Get A Clear And Empowering Story To Tell Yourself – You Need To Work On The Story That Will Resonate And Influence Others

~ WFYA-UYOV ~ Write For Your Audience – Use Your Own Voice

~ UYSFG ~ Use Your Superpowers For Good

~ GBASYDOAML-AFO-T-R-T-B-TMYTPOYPOS ~ Go Back And Scrub Your Document Of Any Marketing Slime – And Focus On – The – Real – Tangible – Benefits – That Make You Truly Proud Of Your Product Or Service

~ FTTTTYST ~ Finding The Thread That Ties Your Story Together

~ WAYR?-A-HDYWTRIYS? ~ What Are Your Roots – And – How Do You Want Them Reflected In Your Story?


~ RLAS-PATBMADIM-AGIATATATM-AASSWSYWOSM ~ React Like A Scientist – Pause And Think Before Making Any Decisive Intellectual Moves – Avoid Granting Immediate And Total Acceptance To Anything That Matters – Adopting A Scientific Stance Will Serve You Well On Social Media

~ DYR-THTITHBCBTUWICTSI-PL;PBC;AETMSAHAUOGFW ~ Do Your Research – The Hard Truth Is That Human Beings Cannot Be Trusted Unconditionally When It Comes To Sharing Information – People Lie; People Become Confused; And Even The Most Sensible And Honest Among Us Often Get Facts Wrong

~ CUWYOHOT-TTEHACMBTOF-S-IPEFAIOC-TNTDTDWOTIMLTBT ~ Come Up With Your Own Hypothesis Or Theory – Try To Explain How A Claim Might Be True Or False – Speculate – Image Possible Explanations For An Idea Or Claim – Then Narrow Them Down To Determine Which Of Them Is More Likely To Be True

~ CYOEOT-FOHTTACCBD-BIIDMOTN-FOIOHATOITT ~ Conduct Your Own Experiment Or Test – Figuring Out How To Test A Claim Can Be Difficult – But It Is Doable More Often Than Not – Find Out If Others Have Already Tested Or Investigated The Topic

~ SYC-NITTAOPTLFEIYR-SYCW-TS-MS-PYK ~ Share Your Conclusion – Now It’s Time To Ask Other People To Look For Errors In Your Reasoning – Share Your Conclusion With – The Smartest – Most Sensible – People You Know

~ LO-C-C-APA-YCOD~ Let Others – Consider – Challenge – And Pick Apart Your Conclusion Or Decision

~ F-IIVTYCWIYRFOABWTCYMIN ~ Finally – It Is Vital That You Consider Whatever Input You Receive From Others And Be Willing To Change Your Mind If Necessary

~ IS-POAMOAF-IYR-DBTIOO-BGTYHBGTCTMALCT-TAR ~ If Someone – Points Out A Mistake Or A Flaw – In Your Reasoning – Don’t Be Too Irritated Or Offended – Be Grateful That You Have Been Given The Chance To Move A Little Closer To – Truth And Reality


~ AWB’ESOO’?~ Are We Becoming – “Efficient Shadows Of Ourselves”?

~ FAS-FM-DOD ~ Fleeting And Soon-Forgotten Micro-Doses Of Dopamine

~ WWMP? ~ Will We Miss Privacy?

~ YOASNDYAAP-B-I-TD ~ Your Online Activities Should Not Define You As A Person – But – Increasingly – They Do

~ WD-‘F’-C? ~ What Does – “Free” – Cost?

~ ATMAMOTTCBBFU?-WCK-BTCTBITSWOPTAADHTTUWTK-O-WTTTK-AU-WDHTLRTCT ~ Are There Misinformation And Misinterpretations Out There That Could Be Bad For Us? – We Can’t Know – Because The Companies That Barter In The Shadows With Our Private Thoughts And Activities Don’t Have To Tell Us What They Know – Or – What They Think They Know – About Us – We Don’t Have The Legal Right To Check Them

~ WCPTH-HEAMC-WWDEKTTE ~ We Can’t Petition To Have – Harmful Errors And Misjudgments Corrected – When We Don’t Even Know That They Exist

~ TRONWBD ~ The Renaissance Of Nonsense Will Be Digitized

~ TPV-BPN-WUB-CA-C-A-TSD ~ The Positive Features – Become Powerful Negatives – When Used By – Con Artists – Crackpots – And – The Sincerely Deluded

~ TLSM ~ Terrorists Love Social Media

~ SPB-SMWDNLTSTWBUIANAOC-O-H-WTSMMHTFDUAIASCO-F/H/S ~ Some People Believe – Social Media Will Do Nothing Less Than Save The World By Ushering In A New Age Of Connectivity – Others – However – Warn That Social Media Might Help To Finally Drown Us All In A Sad Cesspool Of – Fear / Hate / Stupidity

~ SOTWMVADGCUSMTOAGTRIPODG ~ Some Of The World’s Most Violent And Destructive Groups Currently Uses Social Media To Organize And Grow Their Ranks In Pursuit Of Dark Goals

~ WT-YVO-C-B-B-O-PR-M-AL ~ Welcome To – Your Very Own – Customized – Biased – Bubble – Of – Psychological Reinforcement – Manipulation – And Lies

~ ROTA ~ Rise Of The Algorithms

~ OTA-CB-TCBSEIT-EHI-A-EUI-C-BHIAHAIEOMYMVTTPO-CB-RTLV ~ One Thing About – Confirmation Bias – That Cannot Be Stressed Enough Is That – EVERYONE HAS IT – And – EVERYONE USES IT – Counterintutively – Being Highly Intelligent And Having An Impressive Education Often Makes You More Vulnerable To The Problem Of – Confirmation Bias – Rather Than Less Vulnerable

~ TRB ~ The Reality Bubble

~ IYWTAALDITVOT-TYMBHETBH ~ If You Want To Always At Least Dwell In The Vicinity Of Truth – Then You Must Be Honest Enough To Be Humble

~ WWDKITLDUARNHFSMTBAFEIWTT ~ What We Do Know Is That Lies Dressed Up As Respectable News Have Found Social Media To Be A Fertile Environment In Which To Thrive

~ HCSWBAKN? ~ How Concerned Should We Be About Fake News?

~ FN-I-DN-THBCAPFTSPOM-R/L/V-WKFI-TGCIA-F-GCFP-T-MPG ~ Fake News – Is – Dishonest News – That Has Been Crafted And Published For The Specific Purpose Of Misleading – Readers / Listeners / Viewers – With Knowingly False Information – That Goal Can Include Anything – From – Garnering Clicks For Profit – To – Making Political Gains

~ HNNBACIAWAFN ~ Humour Need Not Be A Casualty In Anyone’s War Against Fake News

~ CFOF’ ~ Contradictory “Fountains Of Facts”

~ WBTS? ~ Who Believes This Stuff?

~ ACCASIINSAAAOF-TFTBF ~ Accepting Crazy Claims And Stupid Ideas Is Now Seen As An Aspect Of Freedom – The Freedom To Be Fooled

~ BSOE ~ Be Skeptical Of Everything

~ CTS ~ Consider The Source

~ DSG ~ Don’t Spread Garbage

~ O-B-FATGP-ASFAGS-AEI-CL-OJPOG ~ Our – Brains – For All Their Glorious Powers – Are Suckers For A Good Story – An Exciting Image – Convenient Lie – Or Just Plain Old Gossip

~ FNM ~ Fake News Matters

~ DLTD ~ Delusions Lead To Danger

~ SOCTIHGUC ~ Scarcity Of Critical Thinking Is Humankind’s Great Unrecognized Crisis

~ WHWYDKWYDK? ~ What Happens When You Don’t Know What You Don’t Know?

~ CINTSTAK ~ Confidence Is Not The Same Thing As Knowledge

~ WCYDTAG?-BDSN ~ What Can You Do To Avoid Groupthink? – Build Diverse Social Networks

~ BTB-CCBW-PINARMOTAR ~ Beware The Bandwagon – Crowds Can Be Wrong – Popularity Is Not A Reliable Measure Of Truth And Reality

~ A:TFITHYSMAATYANRFWSTSFYCTADAI ~ Anchoring: The First Input That Hits Your Subconscious Mind About A Topic You Are Not Reasonably Familiar With Sets The Stage For Your Conscious Thoughts And Decisions About It

~ OAMEFTIA ~ Others Are More Easily Fooled Than I Am

~ WASC-WTTSNOOPBWTAUBEODTAFAW ~ We Are Social Creatures – We Tend To Synchronize Not Only Our Physical Behavior With Those Around Us But Even Our Deepest Thoughts And Feelings As Well

~ AB-TT-TTIABIBSPTBAAF ~ Authority Bias – The Tendency – To Trust In And Be Influenced By Someone Perceived To Be An Authority Figure

~ ABIAATTB ~ Authority Bias Is An Amazing Thing To Behold

~ AEIOTINAEIE ~ An Expert In One Thing Is Not An Expert In Everything

~ SIAT-AHI-ATAOU-TUDITTOODL ~ Science Is A Tool – A Human Invention – Available To All Of Us – To Use Down In The Trenches Of Our Daily Lives –

~ NOWBATDTNFGTITWIDIL ~ No One Will Be Able To Deny The Need For Good Thinking If The World Is Drowning In Lies

~ NMWYAOWYD-TAAALAFTYWRKOOTROARSOSWDLYAMECYG ~ No Matter Who You Are Or What You Do – There Likely Are At Lest A Few Things You Would Rather Keep Out Of The Reach Of A Random Stranger Or Someone Who Doesn’t Like You And Might Enjoy Causing You Grief

~ HI-TET-FC-A-I-PAI-E-THETD-S-A-AS-IOT-MAJT ~ Humans In – The Early Twenty-First Century – Are – Ill-Prepared And Ill-Equipped – To Have Everything They Do – Surveilled – Analyzed – And Stored – In Order To – Manipulate And Judge Them

~ AT-A-TMODW-T-I-C-H-S-JIT-DR-DR-DE ~ A Tried-And-True Method Of Dealing With – Trolls – Is – Cold – Hard – Silence – Just Ignore Them – Don’t React – Don’t Reply – Don’t Engage

~ DBD ~ Defined By Data

~ E-BPT ~ Emotion-Based Precision Targeting

~ ASMUABUAGP ~ All Social Media Users Are Being Used As Guinea Pigs

~ TDYSMI-VIS ~ Trim Down Your Social Media Identity – Vague Is Safer

~ AQ-NBYOICATN-B-BWNTBTATN ~ Ask Questions – Not Because You Or I Can Answer Them Now – But – Because We Need To Be Thinking About Them Now

~ WCLTI-GTW-O-W-DACTBTAU ~ We Can’t Let – The Internet – Go To Waste – Or – Worse – Degrade And Corrupt The Best Things About Us


~T-S&F-O-TWS-HFB-TLATR-TWVBP-TRACCOTITAOTSTA-TLHBFTGUO-C-W-TRHBFTGUO-L ~ The – Successes And Failures – Of – The Welfare State – Have Forced Both – The Left And The Right – To Swallow Very Bitter Pills – To Renounce A Core Component Of The Ideologies That At One Time Set Them Apart – The Left Has Been Forced To Give Up On – Communism – While – The Right Has Been Forced To Give Up On – Libertarianism

~ C:TSSDE-L:TSSDN-BIANTD ~ Communism: The State Should Do Everything – Libertarianism: The State Should Do Nothing – Both Ideas Are Now Thoroughly Discredited

~ TCO-C-I-OC-SBK-BIMFBT-B-TCO-L-ITTCWJAC ~ The Collapse Of – Communism – Is – Of Course – Somewhat Better Known – Because It Made For Better Television – But – The Collapse Of – Libertarianism – In The Twentieth Century Was Just As Complete

~ AWBO-II-JDAUTO-GI ~ A Whole Bunch Of – Individual Interest – Just Don’t Add Up To One – Group Interest

~ DHTSO-PONT-‘VH’-OGTSI-IOTGETAIAWTAPTCO ~ Despite Having The Same Objectives – People Often Need The – “Visible Hand” – Of Government To Step In – In Order To Get Everyone To Act In A Way That Actually Promotes Their Common Objectives

~ SWNTHA-S-YCGAMEOOS-IA-WIR-AWS-ICP-IAHEA-T-PPP-ETVOE-A-TEF-TEA-MRN-ISCSBATTHB ~ So We Need To Have A – State – You Can’t Get A Market Economy Out Of Self-Interest Alone – What Is Required – And What Self-Interest Cannot Provide – Is An Honest Enforcement Agency – To – Protect Private Property – Ensure The Voluntariness Of Exchange – And – To Enforce Contracts – This Enforcement Agency – Must Remain Neutral – Its Services Cannot Simply Be Available To The Highest Bidder

~ IYLATLOSPBTGTETSFOTCE-OJTMLEFI-TRIPI ~ If You Look At The List Of Services Provided By The Government To Ensure The Smooth Functioning Of The Capitalist Economy – Or Just To Make Life Easier For Investors – The Range Is Pretty Impressive

~ TITBSBATRCTTGETTGROIRN-AAR-TSSESEPTIOCT-SPFC ~ The Idea That Businesspeople Should Be Able To Run Crying To The Government Every Time They Get Ripped Off Is Relatively New – As A Result – The State Spends Enormous Sums Essentially Protecting The Integrity Of Commercial Transactions – Social Programs For Capitalists

~ TCT-‘LG-A-‘LF’C-TOTBNSM-APDOIL-A-AAPOTIOTWMTI’LG’-TBACT ‘KTPTBTW-SEE’-ATSDQAAPP ~ The Commitment To – “Limited Government” – And – “Laissez-Faire” Capitalism – Turns Out To Be Not So Much – A Principled Defense Of Individual Liberty – As – An Arbitrary Privileging Of The Interests Of Those With Money To Invest – “Less Government” – Therefore Becomes A Call To – “Keep Those Programs That Benefit The Wealthy – Scrap Everything Else”

~ IM-EWTD ~ Incentives Matter – Except When They Don’t

~ EAFFBTAHAI-MBS-I-TSTDRBT-WTDBITAHAI-U-AAR-TWUIFSAOHPMD ~ Economists Are Famous For Believing That All Human Action Is – Motivated By Self-Interest – Technically Speaking They Don’t Really Believe This – What They Do Believe Is That All Human Action Is – Unprincipled – As A Result – They Wind Up Ignoring Fairly Significant Aspects Of How People Make Decisions

~ SS-WTMSAC-‘S’-WTWTIAASCT-‘E’ ~ Social Scientists – Who Take Morality Seriously Are Called – “Sociologists” – Whereas Those Who Think It’s All A Scam Call Themselves – “Economists”

~ TFIT-PACNOWTCOTA-BAWTPTGT ~ The Fact Is That – People Are Concerned Not Only With The Consequences Of Their Actions – But Also With The Principles That Govern Them

~ PANATWESTS ~ People Almost Never Act The Way Economist Say They Should

~ TFITKOTTEHTTSIPB-OD-A-TKOTTEHTTSIPB-OD ~ The Fact Is The Kinds Of Things That Economists Have Traditionally Thought Should Influence People’s Behavior – Often Don’t – And – The Kinds Of Things That Economist Have Traditionally Thought Shouldn’t Influence People’s Behavior – Often Do

~ EIB-PHATTOTIOEIIMHC ~ Extrinsic Incentive Bias – People Have A Tendency To Overestimate The Importance Of External Incentives In Motivating Human Conduct

~ IANTOTTM-IAOIC ~ Incentives Are Not The Only Things That Matter – Incentives Are Often Incredibly Complex

~ YPPIM-CP-ATCOT-‘LOE’-BU-WOIAHEAAB ~ Yet People Persist In Making – Confident Predictions – About The Consequences Of The – “Laws Of Economics” – Based Upon – Wildly Oversimplified Ideas About How Economic Actors Actually Behave

~ THBASMT-S-C-BE-WTP-TA-ATNS-PALMAT-HPAB ~ There Has Been A Significant Move Toward – So-Called – Behavioral Economics – Within The Profession – This Approach – As The Name Suggests – Pays A Lot More Attention To – How People Actually Behave

~ TAASO-‘IH’-AWITITGODL-MOWHNTDWTM ~ There Are All Sorts Of – “Invisible Hands” – At Work In The Institutions That Govern Our Daily Lives – Many Of Which Have Nothing To Do With The Marketplace

~ TS-IF-PETSAOWA-TM-WITS-IP-NAA-P-PW-A-PCW ~ The State – In Fact – Produces Exactly The Same Amount Of Wealth As – The Market – Which Is To Say – It Produces – None At All – People – Produce Wealth – And – People – Consume Wealth

~ I-SA-TS-O-TM-NPNCA-TSCMTWPCTPACOW ~ Institutions – Such As – The State – Or – The Market – Neither Produce Nor Consume Anything – They Simply Constitute Mechanisms Through Which People Coordinate Their Production And Consumption Of Wealth

~ ALOEIERAFTTTTEIATTWP ~ A Lot Of Errors In Economic Reasoning Arise From The Tendency To Treat Economic Institutions As Though They Were People

~ PWAF-TSOPOPPOTGO-C-OOTAOCTAEI-PM-WUTAOCTEI-TPS ~ People Who Argue For – The Superiority Of Private Over Public Provision On The Grounds Of – Choice – Often Overstate The Amount Of Choice That Actually Exists In – Private Markets – While Understating The Amount Of Choice That Exists In – The Public Sector

~ MOTSMAIATWTTOA – ‘S’ – HALMTDW-RP-TW-E-O-DJ-AICWTMSIGPIR-IIUBTATPIW-WEG-NW-LROI ~ Many Of The Social Movements And Institutional Arrangements That We Traditionally Think Of As – “Socialist” – Have A Lot More To Do With – Risk-Pooling – Than With – Equality – Or – Distributive Justice – And In Cases Where These Movements Succeed In Generating Permanent Institutional Reform – It Is Usually Because The Arrangements They Promote Involve Win-Win Efficiency Gains – Not Win-Lose Redistributions Of Income

~ FWPHNTRI ~ Fiddling With Prices Has Nothing To Recommend It

~ C-DHALTTILTIT-B-TSD-P ~ Corporations – Do Have A Lamentable Tendency To Ignore Laws That Inconvenience Them – But – Then So Do – People

~ WMSTSIV-RTJIV-ICHTEOSUTEE ~ When Money Starts To Seem Intrinsically Valuable – Rather Than Just Instrumentally Valuable – It Can Have The Effect Of Seizing Up The Entire Economy

~ PDI-OOTMISPFC-EETPOROOCB ~ Public Deposit Insurance – One Of The Most Important Social Programs For Capitalists – Essentially Eliminated The Problem Of Runs On Ordinary Commercial Banks

~ TR-IN-C-IIS ~ Tax Revenue – Is Not – Consumed – It Is Spent

~ TQI-H-TM-ITB-M-HIAHTSITB-A-HTBABOCATBD ~ The Question Is – How – The Market – Is To Be – Managed – How Inclusive And Humane The System Is To Be – And – How The Benefits And Burdens Of Cooperation Are To Be Distributed

~ U-PNTWT-AWIAOOTMISOICAD ~ Ultimately – People Need To Work Together – And Wage Inequalities Are One Of The Most Important Sources Of Internal Conflict And Dissension

~ FAETOTGITFOE-BPFTA-C-WITFTEDUEE ~ Fallacies Are Especially Thick On The Ground In The Field Of Economics – Because People Fail To Appreciate – Complexity – We Ignore The Fact That Everything Depends Upon Everything Else

~ MBR-PA ~ Mutually Beneficial Risk-Pooling Arrangements


~ T-C-W-BAHTS/HCNA? ~ The – Consumer – Who – Bought A House That She/He Could Never Afford?

~ TB-W-L-TM? ~ The – Bank – Who – Lent – The Money?

~ T-I-W-WTATLIWMTBTLI? ~ The – Investor – Whose – Willingness To Assume The Loan Is What Motivated The Bank To Lend It?

~ T-IC-W-WTUTCRIWMTITATL? ~ The – Insurance Company – Whose – Willingness To Underwrite The Credit Risk Is What Motivated The Investor To Assume The Loan?

~ T-G-WDBT-MTICSASMTCSP? ~ The – Government – Which Didn’t Bother To – Make These Insurance Companies Set Aside Some Money To Cover Such Policies?

~ TYP-TPIT-EDSW ~ Take Your Pick – The Point Is That – Everyone Did Something Wrong

~ T-S-T-LICU-TS-IOT-ETMH ~ The – Solution – Therefore – Lies In Cleaning Up – The System – In Order To – Eliminate The Moral Hazards