DAVID FREEDMAN ~ WRONG ~ 2010

~ AE-R-C-A-S-CAPARITRWGTA ~ An Expert’s – Reputation – Credentials – And – Style – Can All Play A Role In The Reception We Give The Advice

~ WLATSS-WLFT-ABC-E-ES-GFIAD ~ We Love Advice That Seems Simple – We Look For The – ABCs – Essentials – Executive Summaries – Guides For Idiots And Dummies

~ CWSTLFIEA:CC/DF/U/U/P/DC/S/N/RF ~ Characteristics We Seem To Look For In Expert Advice: Clear-Cut / Doubt-Free / Universal / Upbeat / Actionable / Palatable / Dramatic Claims / Stories / Numbers / Retroactive Fixes

~ WHTBCCLIACW-SWWWEATAIQTBS? ~ We Happen To Be Complex Creatures Living In A Complex World – So Why Would We Expect Answers To Any Interesting Questions To Be Simple?

~ TGEO-G/TW/C/C-ILAM ~ The General Effectiveness Of – Groups / Team-Work / Collaboration / Consensus – Is Largely A Myth

~ C-FFBRW-TOTBALAGADASTPADOEWAHI-ATTBSOTWWTTT ~ Crowds – Far From Being Reliably Wise – Turn Out To Be At Least As Good At Discouraging And Suppressing The Production And Dissemination Of Excellent Work As Highlighting It – And Tend To Bring Some Of The Worst Work To The Top

~ TEOTGIET-A/LI-WPTROWEOAITI ~ The Effect Of The Group Is Essentially To – Amplify / Lock In – Whatever Proclivity Toward Rightness Or Wrongness Exists On Average In The Individuals

~ PIGTSNTTAHAIWOTO ~ People In Groups Tend Simply Not To Try As Hard As Individuals Working On Their Own

~ PIGSMOTTLTO-RTTOTO-NARITGADP-B-IG-TNTITT-OT-OD-OP-G-ISWETIIESMA ~ People In Groups Spend Most Of Their Time Listening To Others – Rather Than Thinking On Their Own – Not All Research Indicates That Groups Always Degrade Performance – But – In General – The Notion That Individuals Tend To – OutThink – OutDecide – OutPerform – Groups – Is So Well Established That It Isn’t Even Studied Much Anymore

~ OAMOIF-EHCCP-ARTVOTGAI ~ Once A Majority Opinion Is Formed – Even Highly Competent, Confident People – Are Reluctant To Voice Opinions That Go Against It

~ MF:S/P/FE/O-S-F-A/ITWTZ/NBNR ~ Management Fads: Simple / Prescriptive / Falsely Encouraging / One-Size-Fits-All / In Tune With The Zeitgeist / Novel But Not Radical

~ ANOCHUACIHIRBIRMAB-TLOOTHGF-BEHTG-IALO ~ Any Number Of Companies Held Up As Corporate Idols – Have In Retrospect Been Iffy Role Models At Best – The List Of Organizations That Have Gone From – Business-Expert Hero To Goat – Is A Long One

~ TCOLTEA:S/U/D/SBOASS(OMSOLCO)/IG/PBPOOTSTBFIA/GTPAFOOAPRFOC ~ Typical Characteristics Of Less Trustworthy Expert Advice: Simplistic / Universal / Definitive / Supported By Only A Single Study (Or Many Small Or Less Careful Ones) / It’s Groundbreaking / Pushed By People Or Organizations That Stand To Benefit From Its Acceptance / Geared Toward Preventing A Future Occurrence Of A Prominent Recent Failure Or Crisis

~ SCOMTEA:DTTOA/IANF/HOQS/CARE/PSCFTR/PP/I-C-B-C ~ Some Characteristics Of More Trustworthy Expert Advice: Doesn’t Trip The Other Alarms / It’ A Negative Finding / Heavy On Qualifying Statements / Candid About Refutational Evidence / Provides Some Context For The Research / Provides Perspective / Includes – Candid – Blunt – Comments

DAVID EDWARD + DAVID CROMWELL ~ NEWSPEAK IN THE 21ST CENTURY ~ 2009

~ AAU-U-OM-ABCC-PD-OIRRAC-FTS-CR-TTTP ~ All Around Us – Unseen – Our Media – Are Being Continuously Cleansed – Pore-Deep – Of Important Rational Reporting And Commentary – For The Simple – Crude Reason – That They Threaten Profits

~ NIAPOTP-MATOOVATLOCV ~ News Is A Procession Of The Powerful – Marvel At The Orthodoxy Of Views And The Lack Of Critical Voices

~ WTCCH-WWGASOBSAEHFM-TEASWSBD-B-TWTPWHCTP ~ When The Credit Crunch Hit – We Were Given A Succession Of Bankers, Stockbrokers And Even Hedge-Fund Managers – To Explain And Say What Should Be Done – But – These Were The People Who Had Caused The Problem

~ TAPFVMTP-TTRWTASMPPIB-TRHTTBOTDW ~ There Are Precious Few Voices Making The Point – That The Reason Why There Are So Many Poor People Is Because – The Rich Have Taken The Bulk Of The Disposable Wealth

~ WDCB-S-P-O-I-LAIAAO ~ Where Dissidents Cannot Be – Sacked – Patronised – Or – Ignored – Legal Action Is Always An Option

~ AKFDTPSITHCFSD ~ A Key Force Driving The Propaganda System Is The Human Capacity For Self-Deception

~ MJCBETASACHNATTACTTNOP ~ Many Journalist Clearly Believe Everything They Are Saying And Clearly Have No Awareness That They Are Conforming To The Needs Of Power

~ TDTI-MPAM-HAACTM-J-‘TI’ -SUAR-WCOITO ~ The Disturbing Truth Is – Mainstream Politics And Media – Have An Astonishing Capacity To Make – Just – ‘This’ – Issue Seem Urgent And Real – While Consigning Other Issues To Oblivion

~ TTFAPJITB-‘R’-TM-TATPODSBPI-ATITHCOHOHA ~ The Temptation For A Professional Journalist Is To Be – ‘relevant’ – To Matter – To Accept The Parameters Of Debate Set By Powerful Interests – And To Ignore The Human Costs Of His Or Her Actions

~ WBOVORAKFOU-‘S’-WWTPFCFAI-TMASIFOSOIAS-TLLWATAECI ~ We Build Our Version Of Reality Around Key Frameworks Of Understanding – ‘Schemas’ – Which We Then Protect From Conflicting Facts And Ideas – The More Important A Schema Is For Our Sense Of Identity And Security – The Less Likely We Are To Accept Evidence Contradicting It

~ CTDEVTTMPUWAMOLHROTW ~ Challenge The Deeply Entrenched View That The Media Present Us With A More Or Less Honest Revision Of The World

~ TPPOTMIAWAWP-AAPOHS ~ The Propaganda Performance Of The Media Is A Weird And Wonderful Phenomenon – An Astonishing Product Of Human Society

~ TTABETOOC-WFOTCOO-ITGMOB ~ To Turn A Blind Eye To Our Own Crimes – While Focusing On The Crimes Of Others – Is To Guarantee More Of Both

~ TTOPITAPFLAMTS ~ The Task Of Propaganda Is To Apply Power-Friendly Labels And Make Them Stick

~ A-‘C’-IRTSCAITTBLC-ASWFNCATIOTPMOFOS-TINCATCDO-CEPPAFP ~ All – ‘Conversation’ – Is Required To Step Carefully Around Issues Threatening The Bottom Line Concern – And So We Find No Conversation About The Impact Of The Profit Motive On Freedom Of Speech – There Is No Conversation About The Corporate Domination Of – Culture, Economics, Party Politics And Foreign Policy

~ WCHTBRSODAAR ~ We Cannot Hope To Base Real Solutions On Dishonest Analysis And Reporting

~ CJRTWFOFTRCODDJ-SSB ~ Compassionate Journalism Requires That We Free Ourselves From The Root Cause Of Dishonest, Destructive Journalism – Self-Serving Bias

~ AROCATOMABATO ~ A Rule Of Conduct Applied To Others Must Also Be Applied To Ourselves

~ WCRTGIOHH-TSCTUAFHICM ~ We Can Realise The Great Irony Of Human Happiness – That Self-Centredness Takes Us Away From Happiness Into Claustrophobic Misery

~ GCDNAOOGOS-IAOOA-S-OOTA-TEIAPP-A-CFOITPTGGAH ~ Greater Compassion Does Not Arise Out Of Guilt Or Shame – It Arises Out Of Awareness – Specifically – Out Of The Awareness – That Egotism Is A Painful Prison – And – Concern For Others Is The Path To Genuine Freedom And Happiness

~ IINETAIWPA-IWATOM-WMAOH ~ It Is Not Enough To Address Ignorance With Political Argument – If We Are To Open Minds – We Must Also Open Hearts

~ GAHMSAC-BTWITTDNDS-TDNLTGH ~ Greed And Hatred May Seem All-Conquering – But Their Weakness Is That They Do Not Deliver Solutions – They Do Not Lead To Genuine Happiness

STEVEN SLOMAN + PHILIP FERNBACH ~ THE KNOWLEDGE ILLUSION ~ 2017

~ IOU-TWUHTWWIFOUIM ~ Illusion Of Understanding – That We Understand How Things Work When In Fact Our Understanding Is Meager

~ OMS-WCOABOI-A-WWKILMTAFOUWCRU ~ On Most Subjects – We Connect Only Abstract Bits Of Information – And – What We Know Is Little More Than A Feeling Of Understanding We Can’t Really Unpack

~ WLIACOK ~ We Live In A Community Of Knowledge

~ TMSBTBTI-TB-TE-APOTO-STSOTMCBRTTSOTB ~ The Mind Stretches Beyond The Brain To Include – The Body – The Environment – And People Other Than Oneself – So The Study Of The Mind Cannot Be Reduce To The Study Of The Brain

~ WFDKWWDK ~ We Frequently Don’t Know What We Don’t Know

~ BPAVDRHLTU ~ Both Politicians And Voters Don’t Realize How Little They Understand

~ IOAC-PTTAWOOASD ~ Instead Of Appreciating Complexity – People Tend To Affiliate With One Or Another Social Dogma

~ BOKIEWTOO-TCSOBAA ~ Because Our Knowledge Is Enmeshed With That Of Others – The Community Shapes Our Beliefs And Attitudes

~ IISHTRAOSBOPTTOWDETTECBOTM-WLOGDOTFU ~ It Is So Hard To Reject An Opinion Shared By Our Peers That Too Often We Don’t Even Try To Evaluate Claims Based On Their Merits – We Let Our Group Do Our Thinking For Us

~ ATCNOKSMUMRAWDOBAV ~ Appreciating The Communal Nature Of Knowledge Should Make Us More Realistic About What’s Determining Our Beliefs And Values

~ BWTC-WTTOIT-IIIO-WLBWWTWO ~ Because We Think Communally – We Tend To Operate In Teams – Individual Intelligence Is Overrated – We Learn Best When We’re Thinking With Others

~ IoED ~ Illusion Of Explanatory Depth

~ Deliberation Is Only A Tiny Part Of What Goes On When We Think – Most Of Cognition Consists Of Intuitive Thought That Occurs Below The Surface Of Consciousness

~ MOTFOTHBISATM ~ Much Of The Functionality Of The Human Brain Is Still A Total Mystery

~ PA-DOBAPOS-THOWTAHSPOMCS ~ Pavlovian Associations – Don’t Occur Between Arbitrary Pairs Of Stimuli – They Happen Only When The Association Has Some Possibility Of Making Causal Sense

~ WKJETGB ~ We Know Just Enough To Get By

~ IAOS-TRKLE ~ Intuitions Are Only Superficial – The Real Knowledge Lies Elsewhere

~ TWOBATW ~ Thinking With Our Bodies And The World

~ EI ~ Embodied Intelligence

~ WDCATWBOSG ~ We Draw Conclusions About The World Based On Small Glimpses

~ OBPFTMUAAWU ~ Our Bodies Produce Feelings To Make Us Aware And Warn Us

~ TDNTPOASITB-TUK-I-TB-TB-A-TWMG-TSIA ~ Thought Does Not Take Place On A Stage Inside The Brain – Thought Uses Knowledge – In – The Brain – The Body – And – The World More Generally – To Support Intelligent Action

~ TWOP-SI-ABHTITSIWOSTWATC ~ Thinking With Other People – Shared Intentionality – A Basic Human Talent Is To Share Intentions With Others So That We Accomplish Things Collaboratively

~ TMIASE ~ The Mind Is A Social Entity

~ PABTC ~ People Are Built To Collaborate

~ TSAU-ITSOBMS-MWBTWABATUO ~ The Smartest Among Us – In The Sense Of Being Most Successful – May Well Be Those Who Are Best Able To Understand Others

~ IACOK-WMMTHK-IHATK ~ In A Community Of Knowledge – What Matters More Than Having Knowledge – Is Having Access To Knowledge

~ BWCTKIOHWTKWHAT-WALUOHLWU ~ Because We Confuse The Knowledge In Our Heads With The Knowledge We Have Access To – We Are Largely Unaware Of How Little We Understand

~ TDN(Y)SI ~ Technology Does Not (Yet) Share Intentionality

~ CTTC ~ Committing To The Community

~ TFTASMOPHSP-DNMTTOII-AAR-SFAIDNEFDU-TOEITAOU ~ The Fact That A Strong Majority Of People Has Some Preference – Does Not Mean That Their Opinion Is Informed – As A Rule – Strong Feelings About Issues Do Not Emerge From Deep Understanding – They Often Emerge In The Absence Of Understanding

~ WDPHSPAITKSLA? ~ Why Do People Have Such Passion About Issues They Know So Little About?

~ ACOKCBD-WGMDKM-BSAP-ESEEAJTV-AHOM ~ A Community Of Knowledge Can Become Dangerous – When Group Members Don’t Know Much – But Share A Position – Everyone Sees Everyone Else As Justifying Their View – A House Of Mirrors

~ WITTYODUTPIAISAC-NDY ~ While It’s True That Your Opponents Don’t Understand The Problem In All Its Subtlety And Complexity – Neither Do You

~ SI ~ Shattering Illusions

~ YCCTIOAPBROHYFAI ~ You Can’t Consider The Implications Of A Policy By Ruminating On How You Feel About It

~ People Often Have Strong Positions On Issues – Positions That Are Generally Based On Very Little – Certainly Very Little That They Can Articulate – Asking Them To Generate A Detailed Causal Explanation – Makes Them Less Extreme

~ DTCOAE-ICAMMPT-AETBAE ~ Discovering The Credibility Of An Expert – Is Certainly A More Manageable Problem Than – Asking Everyone To Become An Expert

~ EPICUT-PALITSNIAFOTTWW-CEIAEWTSTI-BPDLHTIS-PLTFS-NI ~ Exposing People’s Illusions Can Upset Them – People Are Less Inclined To Seek New Information After Finding Out That They Were Wrong – Causal Explanation Is An Effective Way To Shatter The Illusion – But People Don’t Like Having Their Illusions Shattered – People Like To Feel Successful – Not Incompetent

~ TNDOS ~ The New Definition Of Smart

~ FI-IWWTWWSSI-‘S’-TPHTATCTCQWTTAIATFNTO ~ Fluid Intelligence – Is What We’re Thinking When We Say Someone Is “Smart” – The Person Has The Ability To Come To Conclusions Quickly Whatever The Topic And Is Able To Figure New Things Out

~ CI-RTHMIOHAODSIM ~ Crystallized Intelligence – Refers To How Much Information One Has At One’s Disposal Stored In Memory

~ CI ~ Collective Intelligence

~ INITMTM-FMITTQOAII-TQOTT ~ It’s Not Ideas That Matter The Most – Far More Important Than The Quality Of An Idea Is – The Quality Of The Team

~ HABTBMOAS;HABTPIAC ~ Humans Aren’t Built To Become Masters Of All Subjects; Humans Are Built To Participate In A Community

~ SIDBAC ~ Science Is Done By A Community

~ WPFDBS? ~ Who Profits From Doing Bad Science?

~ COL ~ Communities Of Learning

~ BDOOFWWKMUVTTWWETFIOTSF ~ Being Dependent On Others For What We Know Makes Us Vulnerable To Those Who Would Exploit This Fact In Order To Spread Falsehoods

~ TAOEITFOPJ ~ The Appearance Of Evidence In The Form Of Pseudoscientific Jargon

~ AWIHSUAP ~ A Whole Industry Has Sprung Up Around Pseudoscience

~ TSINMI ~ The Solution Is Not More Information

~ TCOK-TFTSWIIOOHFWIITHOO ~ The Curse Of Knowledge – The Failure To Separate What Is In One’s Own Head From What Is In The Heads Of Others

~ THE ~ The Hive Economy

~ NBD ~ Nudging Better Decisions

~ RC ~ Reduce Complexity

~ SDR ~ Simple Decision Rules

~ CYU-KWYDKAYTGHAFITGWTNA-IBYDTEAPYFAIATDID-DTYMRL ~ Check Your Understanding – Knowing What You Don’t Know Allows You To Get Help And Fill In The Gaps When The Need Arises – It Brings You Down To Earth And Prevents You From Allowing Intellectual Arrogance To Drive Important Decisions – Decisions That You Might Regret Later

~ IPDKHITA ~ Ignorant People Don’t Know How Ignorant They Are

~ TD-KE-TWPTWOTOSTM-SPOUTP-TUJDKWTDK ~ The Dunning-Krugger Effect – Those Who Perform The Worst Overrate Their Own Skills The Most – Strong Performers Often Underestimate Their Performance – The Unskilled Just Don’t Know What They Don’t Know

~ ASC ~ A Saner Community

~ ASLIOW-KHTIACATAOTKWI-A-WCDRTTWTME ~ A Strong Leader Is One Who – Knows How To Inspire A Community And Take Advantage Of The Knowledge Within It – And – Who Can Delegate Responsibility To Those With The Most Expertise

~ BDLWAC-WMRTRFOD ~ But Despite Living Within A Community – We Must Retain The Responsibility For Our Decisions

BRUCE SCHNEIER ~ LIARS AND OUTLIERS ~ 2012

~ SOUAMCMHMAAF-ASOUALS-TIODSS-WHTFTSBDS ~ Some Of Us Are More Cooperative, More Honest, More Altruistic, And Fairer – And Some Of Us Are Less So – There Isn’t One Dominant Survival Strategy – We Have The Flexibility To Switch Between Different Strategies

~ TWABAGOPWWTTTWGB-TBWCHFITDWOBD-AWENED-KTPDTATL ~ There Will Always Be A Group Of People Who Will Try To Take Without Giving Back – The Best We Can Hope For Is To Do What Our Bodies Do – And What Every Natural Ecosystem Does – Keep Those Parasites Down To A Tolerable Level

~ WDKTAIATDBOIAM-KPAMLTR ~ We Do Know That Agreeableness Is A Trait Desired By Others In A Mate – Kind People Are More Likely To Reproduce

~ O-AHRDSB-NIIAPWPTHITBO-S-AISOLMHMT ~ Oxytocin – A Hormone Released During Social Bonding – Naturally Increases In A Person Who Perceives That He/Her Is Trusted By Others – Similarly – Artificially Increasing Someone’s Oxytocin Level Makes Her/Him More Trusting

~ MARCOPTOSP-TAIAOABCASLIOB-DTPO-WVAGD-THH-ATEAODWBD-TAMARSHWAW ~ Morals And Reputation Comprise Our Prehistoric Toolbox Of Societal Pressures – They Are Informal And Operate At Both Conscious And Subconscious Levels In Our Brains – Despite The Prevalence Of – War, Violence And General Deceptiveness – Throughout Human History – And The Enormous Amount Of Damage Wrought By Defectors – These Ancient Moral And Reputational Systems Have Worked Amazingly Well

~ MPWBISG ~ Moral Pressure Works Best In Small Groups

~ RPWWISAMSG ~ Reputational Pressure Works Well In Small- And Medium-Sized Groups

~ IPWBILSG ~ Institutional Pressure Works Best In Larger-Sized Groups

~ ‘DUOWYWHTDUY’-DGHTOUS-IBADTCWO-IRITCTTAUMPOSH ~ “Do Unto Others What You Would Have Them Do Unto You” – Different Groups Have Their Own Unique Spin – It’s Basically An Admonition To Cooperate With Others – It Really Is The Closest Thing To A Universal Moral Principle Our Species Has

~ WDNOAOMCADORAWFTG:TGATCACADAWIMTAIATM ~ We Not Only Absorb Our Moral Codes And Definitions Of Right And Wrong From The Group: The Group Also Transmits Cues About Cooperation And Defection And What It Means To Act In A Trustworthy Manner

~ PAMLTSTSIIFOTGI-ITFTOADSAW-ATLLTDSITFTOATAOT-OISOF ~ People Are More Likely To Suppress Their Self-Interest In Favor Of The Group Interest – If They Feel That Others Are Doing So As Well – And They’re Less Likely To Do So If They Feel That Others Are Taking Advantage Of Them – Our Innate Sense Of Fairness

~ WGDMSFTG-ALAWASF ~ We Generally Don’t Mind Sacrificing For The Group – As Long As We’re All Sacrificing Fairly

~ MSB-TFASBLATMTTBTMW ~ Morals Scale Badly – They Fail As Societies Become Larger And The Moral Ties That Bind Their Members Weaken

~ TALORODD-HSNTBVGAI-TAEAPCLTBBAI-BIG-WCTLFTT ~ There’s A Lot Of Research On Detecting Deception – Humans Seem Not To Be Very Good At It – There Are Exceptions And People Can Learn To Be Better At It – But In General – We Can’t Tell Liars From Truth-Tellers

~ WRNIAPMV-WMD-AFALTPI-ISTKWWDIMITKWTT ~ We Remember Negative Information About People More Vividly – With More Detail – And For A Longer Time – Than Positive Information – It Seems That Knowing Who Will Defect Is More Important Than Knowing Whom To Trust

~ NODWGORAB-WATPTAOGR ~ Not Only Do We Guard Our Reputation Against Blemishes – We Also Take Pains To Advertise Our Good Reputation

~ TMOH-CWALP-RMIW-ARWL ~ Throughout Most Of History – Commerce Was A Local Phenomenon – Reputation Made It Work – And Reputation Was Local

~ OOTWTSRITGBOGM ~ One Of The Ways To Scale Reputation Is To Generalize Based On Group Membership

~ NEITWAMLTTPWLLU-AWNCOPOSABLTMTAU-UTTFITG ~ Numerous Experiments Indicate That We Are More Likely To Trust People Who Look Like Us – And We Naturally Change Our Patterns Of Speech And Body Language To Mimic Those Around Us – Unconsciously Trying To Fit Into The Group

~ TAASORWSIABSFJIP-AFTRSHSTGBOMBI ~ There Are All Sorts Of Reasons Why Stereotyping Is A Bad System For Judging Individual People – And For Those Reasons We Should Strive To Get Beyond Our More Base Instincts

~ RIAESPSUIHC-RCAPD ~ Reputation Isn’t An Effective Societal Pressure System Unless It Has Consequences – Reward Cooperators And Punish Defectors

~ HAASS-WR-BAOTPITG-WAPD-EITCP ~ Humans Are A Social Species – We Reward – By Allowing Others To Participate In The Group – We Also Punish Defectors – Exclusion Is The Corresponding Punishment

~ SIACRP-A-AAR-AISE ~ Shame Is A Common Reputational Punishment – And – As A Result – An Important Social Emotion

~ IPASCWCMTIWNPA ~ Informal Punishments Are So Common We Can Miss Them If We’re Not Paying Attention

~ CTSALOTMRS-TEASO-PFAOA-S-TCTVTTHAGRB-AA-BC-A-ET ~ Confidence Tricksters Spend A Lot Of Time Manipulating Reputation Signals – They Employ All Sorts Of – Props, Facades, And Other Actors – Shills – To Convince Their Victims That They Have A Good Reputation By – Appearing Authentic – Building Confidence – And – Encouraging Trust

~ SPSDCAR ~ Some People Simply Don’t Care About Reputation

~ SPEUWTWR ~ Some People End Up With The Wrong Reputation

~ TMIRRPSTFIT-GGTL ~ The Most Important Reason Reputational Pressure Starts To Fail Is That – Groups Get Too Large

~ WWKA-CCAPIFP-DAMR ~ What We Know About – Celebrities, Corporations And People In Faraway Places – Doesn’t Always Match Reality

~ LCBAI-ILA-OCAUA-TASAU ~ Laws Can Be Applied Inconsistently – If Laws Aren’t – Objective, Common, And Universally Applied – They Are Seen As Unfair

~ OLATRTSACBOBT ~ Our Learned Abilities To Read Trust Signals Are Continually Being Overtaken By Technology

~ UIDS-CMIFMP-BASSIDCBUIMMP-S-A-HTF-IDIER-BIITMMPTF ~ Universal ID Systems – Can Make Impersonation Fraud More Profitable – Because A Single Stolen ID Can Be Used In Many More Places – Sometimes – A – Harder-To-Forge ID Is Even Riskier – Because It Is That Much More Profitable To Forge

~ WMALOOIWOP-FESS-IDCSTS ~ We’re Moving A Lot Of Our Interactions With Other People – From Evolved Social Systems – Into Deliberately Created Socio-Technical Systems

~ WASTLWGACWWT-ATWACBMAM-PMUTGMAAFOR ~ We Are Starting To Learn Which Genes Are Correlated With Which Traits – And This Will Almost Certainly Be Misreported And Misunderstood – People May Use These Genetic Markers As A Form Of Reputation

~ CSDRTNSOA-RITRWSTATIASSDFEE-GIAOIC-ACIONDIA ~ Competing Societal Dilemmas Represent The Normal State Of Affairs – Rarely Is The Real World So Tidy As To Isolate A Single Societal Dilemma From Everything Else – Group Interests Are Often In Conflict – And Cooperating In One Necessitates Defecting In Another

JAMES KWAK ~ ECONOMISM

~ BEATROI ~ Bad Economics And The Rise Of Inequality

~ E-ROTPT-PCAM-BAT-TA-TDIOAE101T-ETTABTDVNHTITRW ~ Economism – Rests On The Premise That – People, Companies, And Markets – Behave According To – The Abstract – Two-Dimensional Illustrations Of An Economics 101 Textbook – Even Though The Assumptions Behind Those Diagrams Virtually Never Hold True In The Real World

~ EIAILTWPMSOR-BICTAO-‘E’-ECBAPRT ~ Economism Is An Interpretive Lens Through Which People Make Sense Of Reality – Because It Claims The Authority Of – “Economics” – Economism Can Be A Powerful Rhetorical Tool

~ WSEACSMP-ITWTMOJTESO-ATITIG-WETFOAATCI ~ While Superficial Economic Arguments Can Serve Multiple Purposes – In Today’s World They Most Often Justify The Existing Social Order – And The Inequality That It Generates – While Explaining The Futility Of Any Attempt To Change It

~ RARWQTSMAATITST-ITS-EILAI ~ Reducing All Real-World Questions To Simple Models And Answering Them In The Same Terms – In This Sense – Economism Is Like An Ideology

~ TCJFGDOW-INLTTSHWDBG-OTTSOTFIRFTPOTS-I-IIN-EC-BIITNOOAESTPTGGTTGN ~ The Common Justification For Great Disparities Of Wealth – Is No Longer That The Social Hierarchy Was Dictated By God – Or That The Survival Of The Fittest Is Required For The Progress Of The Species – Instead – Inequality Is Necessary – Even Celebrated – Because It Is The Natural Outcome Of An Economic System That Provides The Greatest Good To The Greatest Number

~ TAOETPAASRTRDIOSOIS ~ The Ability Of Economism To Pass As Abstract Science Rather Than Rhetorical Device Is One Source Of Its Strength

~ EIAIBOISEAEP-ACUPOTW-WCBCQAE-DWMAUF ~ Economism Is Also Influential Because Of Its Sedative Elegance And Explanatory Power – A Clean, Uncluttered Picture Of The World – Which Can Be Communicated Quickly And Easily – Dispensing With Messy And Uncooperative Facts

~ ASSOAC-BOAUA-HBSWICS ~ A Small Set Of Abstract Concepts – Based On Admittedly Unrealistic Assumptions – Has Become So Widespread In Contemporary Society

~ IALETMACITAWOSADC-TIIITRWOPAI ~ It’s A Lost Easier To Make A Case In The Abstract World Of Supply And Demand Curves – Than It Is In The Real World Of People And Institutions

~ IGPPWTBUTAISOS-WTSTIOTG-OPIWAFIOTW ~ Ideas Gain Power Precisely When They Become Useful To An Important Segment Of Society – When They Support The Interests Of That Group – Or Provide It With A Favorable Interpretation Of The World

~ EEBPAOSHTCUBEPTTA ~ Economism Exists Because People And Organizations Saw How They Could Use Basic Economic Principles To Their Advantage

~ AWFFBMEIP-MDCRTEI ~ As Wealthy Family Foundations Became More Engaged In Politics – Many Devoted Considerable Resources To Economic Ideas

~ BBTPO-PT-SI-AWP-TECTAJDUE-ASOTET-T-CCTBUWEFTPOPTO ~ Befuddled By The Popularity Of – Progressive Taxes – Social Insurance – And Welfare Programs – These Entrepreneurs Concluded That Americans Just Didn’t Understand Economics – And Set Out To Educate Them – Today – Commentators Continue To Blame Unfamiliarity With Economics For The Popularity Of Policies They Oppose

~ MICWDNSIEIARATVOE ~ Many Influential Commentators Who Do Not Specialize In Economic Issues Also Routinely Adopt The Vocabulary Of Economism

~ TMNEBMIASWOPADSAEI ~ The Media Normalize Economism By Making It A Standard Way Of Presenting And Discussing Social And Economic Issues

~ TFTCCWOUSBFE101-DTPVOE-IOTATSR ~ The Fact That Candidates Can Win Office Using Sound Bites From Economics 101 – Demonstrates The Political Viability Of Economism – Inspiring Others To Adopt The Same Rhetoric

~ EFBAAEDTAAAWODAFTRI ~ Economism Functions Both As An Effective Debating Tool And As A Way Of Distracting Attention From The Real Issues

~ ATPOE-TPRITBBAWEP-R-LIBASIAM-YMWYD-EPTPJFT-W-T-A-RS-ALFTWPOV-H-WHRMMSTP-TDHTPTPLADBNP-NPP ~ According To The Principles Of Economism – The People Raking In The Big Bucks Are Worth Every Penny – Remember – Labor Is Bought And Sold In A Market – You Make What You Deserve – Economism Provides The Perfect Justification For The – Winner-Take-All – Reward Scale – At Least From The Winner’s Point Of View – However – Wages Have Risen Much More Slowly Than Productivity – This Divergence Highlights The Possibility That Pay Levels Are Determined By Negotiating Power – Not Pure Productivity

~ ECRPFS-AGTINJTWBAOPWRFAIITSM ~ Excessive Compensation Reduces Profits For Shareholders – A Group That Includes Not Just The Wealthy But Also Ordinary People Whose Retirement Funds Are Invested In The Stock Market

~ ALTSTT-TCBMBI-CCETMDTMTBBHTCITLR ~ Awards Linked To Short-Term Targets – That Can Be Manipulated By Insiders – Can Cause Executives To Make Decisions That Maximize Their Bonuses But Harm The Company In The Long Run

~ FC-WSGWHBACPQ-ERTQFTPSTTAROT-IWTCLMPTPIS ~ For Centuries – Who Should Get What Has Been A Central Political Question – Economism Removes The Question From The Political Sphere To The Abstract Realm Of Theory – In Which The Competitive Labor Market Provides The Perfect, Indisputable Solution

~ OOTCPOEITTA-VVB-AU-YCMTAEUAS-A-DD-TITHTDPFWATMSWOIPTSMDETOE ~ One Of The Core Principles Of Economism Is That Taxes Are – Very, Very Bad – As Usual – You Can Make The Argument Easily Using A Supply-And-Demand Diagram – The Idea That Higher Taxes Discourage People From Working And Therefore Make Society Worse Off Is Probably The Single Most Deeply Entrenched Tenet Of Economism

~ TOIIHFPITUSOTPSY-WNOIIESOG-TEEMRIT1950A1960-APWTTROMIIW70%OH ~ Taxes On Investment Income Have Fallen Precipitously In The United States Over The Past Seventy Years – With No Obvious Increase In Either Savings Or Growth – The Economy Expanded Most Rapidly In The 1950s and 1960s – A Period When The Tax Rates On Most Investment Income Were 70 Percent Or Higher

~ TROCGHHLIEOSOOEG ~ Tax Rates On Capital Gains Have Had Little Impact Either On Savings Or On Economic Growth

~ MPABUOTTR-MHBFDABNOSCIROR-BOPR-SA-‘SWILOAE’ ~ Many People Are Blissfully Unaware Of Their Tax Rates – Most Human Beings’ Financial Decisions Are Based Not On Sophisticated Calculations Involving Rates Of Return – But On Primitive Rules – Such As – “Save Whatever Is Left Over After Expenses”

~ LTRITAOMTTGHTB-RTCATTPS ~ Lower Tax Revenues Increase The Amount Of Money That The Government Has To Borrow – Reducing The Capital Available To The Private Sector

~ TSMSTLITWISAGDHUTS-LPKMOTSDNAMTTWM ~ The Simple Model Saying That Lower Investment Taxes Will Increase Savings And Growth Doesn’t Hold Up To Scrutiny – Letting People Keep More Of Their Salaries Does Not Always Motivate Them To Work More

~ AGISAMBWWOCAOSTWDNTTPSTLAE-ASTQOWTAWDOWFWEFOGAHWIFT ~ A Government Is Simply A Mechanism By Which We Organize Certain Aspects Of Society That We Do Not Trust The Private Sector To Look After Effectively – And So The Question Of Whether Taxes Are Worthwhile Depends On What Functions We Expect From Our Government And How Well It Fulfills Them

~ TGPOAWITSTBOWPBIEP ~ The Greatest Power Of A Worldview Is To Set The Boundaries Of What People Believe Is Even Possible

~ ERMFTPHBIACWBIAWOE-IFC ~ Economism’s Rosy Model Failed To Predict How Both Individuals And Companies Would Behave In A World Of Ever-Increasing Financial Complexity

~ I2008-WRTLTACMDNMETCFTIMPU-I-P-SBLBPACTMTIGIWTDLDAWR-SOATMS ~ In 2008 – We Relearned The Lesson That A Competitive Market Does Not Magically Ensure That Capital Flows To Its Most Productive Uses – Instead – Profit-Seeking Behavior Leads Both People And Companies To Maximize Their Individual Gains In Ways That Distort Lending Decisions And Waste Resources – Sometimes On A Truly Monumental Scale

~ TMTNCALAMCTE-A-CRASTLTETTBWSTNCI ~ The Megabanks That Nearly Collapsed Are Larger And More Complex Than Ever – And – Capital Requirements Are Still Too Low To Ensure That Those Banks Will Survive The Next Crisis Intact

~ IARWLM-TADCCL ~ In A Real-World Labor Market – Trade Agreements Do Create Clear Losers

~ TGAOEHBT-RAPI-AAL-E-T-U-SN-FFSTW ~ The Great Achievement Of Economism Has Been To – Repackage A Political Ideology – As A Lightweight – Easy-To-Use – Seemingly Neutral – Framework For Seeing The World

~ BCTSOAT-EDTTIADAA-TWSITWII-IYDA-YMNUE101 ~ By Claiming The Status Of Absolute Truth – Economism Denies That There Is Any Debate At All – The World Simply Is The Way It Is – If You Don’t Agree – You Must Not Understand Economics 101

~ EPAIRIOCPI-PCTOAAA-WPOTTM ~ Economism Plays An Important Role In Our Contemporary Political Institutions – Prioritizing Certain Types Of Analyses And Arguments – While Pushing Others To The Margins

~ FASTBR-CMANE-TMAB-PDPI-TPEF-MP-SC-A-SAESOR ~ For A Society To Become Rich – Competitive Markets Are Not Enough – There Must Also Be – Pluralistic Democratic Political Institutions – That Prevent Elites From – Monopolizing Power – Suppressing Competitors – And – Seizing An Excessive Share Of Resources

~ U-IWTANWTDBWTO ~ Ultimately – It Will Take A New Worldview To Do Battle With The Old

GEORGE AKERLOF + ROBERT SHILLER ~ PHISHING FOR PHOOLS ~ 2015

~ P-GPTDTTAITIOTP-B-NITIOTT ~ Phish – Getting People To Do Things That Are In The Interests Of The Phisher – But – Not In The Interest Of The Target

~ P-SW-FWR-ISP ~ Phool – Someone Who – For Whatever Reasons – Is Successfully Phished

~ PFS-AFFOELHNMIITET-NOWTGTBANWATB-YMPD ~ Personal Financial Insecurity – A Fundamental Fact Of Economic Life Has Never Made It Into The Economics Textbooks – No One Wants To Go To Bed At Night Worried About The Bills – Yet Most People Do

~ BP-CSLTC-‘BP’-TMTCF-SSAF-YNOWTBO ~ Big Phood – Commissions Scientific Laboratories To Calculate – “Bliss Points’ – That Maximize The Craving For – Sugar, Salt, And Fat – Yet No One Wants To Be Obese

~ TPHTUOTCOMTAC-TPFMDTANITBI-TDNDWIRGFT-TDNCWTRW ~ The Psychologists Have Taught Us Over The Course Of More Than A Century – That People Frequently Make Decisions That Are Not In Their Best Interest – They Do Not Do What Is Really Good For Them – They Do Not Choose What They Really Want

~ WTACFM-TINOFTC-TIAFTP ~ When There Are Completely Free Markets – There Is Not Only Freedom To Choose – There Is Also Freedom To Phish

~ WAPB-WWTRGAF-WWTBNTPWL-WDNWTDA-WTTFOIDHTB-WWODTBIC-A-WAATTL ~ We Are Phisable Because – We Want To Reciprocate Gifts And Favors – We Want To Be Nice To People We Like – We Do Not Want To Disobey Authority – We Tend To Follow Others In Deciding How To Behave – We Want Our Decisions To Be Internally Consistent – And – We Are Averse To Taking Losses

~ NTDB-OITOORT-A-OITOOMOTST-MAGDTOL-IAMRWJLPB-FTC-LTSEP ~ Noticing The Difference Between – Optimality In Terms Of Our Real Tastes – And – Optimality In Terms Of Our Monkey-On-The-Shoulder Tastes – Makes A Great Difference To Our Lives – It’s A Major Reason Why Just Letting People Be – Free To Choose – Leads To Serious Economic Problems

~ TMG-TBWTPFMITLTPT-B-JBWCSTMDNMIT ~ The Mantra Goes – The Best Way To Police Financial Markets Is To Let Them Police Themselves – But – Just Because We Can Say The Mantra Does Not Make It True

~ RM-TM-O-LDDDFP-OW-WRFI ~ Reputation Mining – The More-Or-Less Deliberate Drawing Down For Profit – Of Hard-Won Reputation For Integrity

~ TEO-‘RB’-WTWE ~ The Era Of – “Relational Banking” – Where Trust Was Essential

~ HDIATIBC-STTWNLTFOTB? ~ How Did Incentives At The Investment Banks Change – So That Trust Was No Longer The Foundation Of Their Business?

~ TEO-‘PTCIF’-CNLBTFG ~ The Ethic Of – “Placing The Client’s Interest First” – Can No Longer Be Taken For Granted

~ TCOIFRPFBIOSR ~ The Conflict Of Interest From Ratings Paid For By Issuers Of Securities Remains

~ RSOTLFPCBHRITFS ~ Relatively Small Opportunities To Loot For Profit Can Bring Huge Risks Into The Financial System

~ ORTPIR ~ One Response To Phishing Is Regulation

~ NIATIDNIYEP-SOT-I-GNWTPFP ~ New Ideas And Technical Innovation Do No Invariably Yield Economic Progress – Some Of Them – Instead – Give New Ways To Phish For Phools

~ TAI-WDATP-SSM-A-SIMCF ~ There Are Idealists – Who Draw Attention To Phishing – Start Social Movements – And – Set In Motion Corrective Forces

~ THMNTITON-MOOTFAPSTAC-MACBVAGSOIOOTMNIOM ~ The Human Mind Naturally Thinks In Terms Of Narratives – Much Of Our Thought Follows A Pattern Similar To A Conversation – Most Advertising Can Be Viewed As Grafting Stories Of Its Own Onto The Mental Narratives In Our Minds

~ MSTNTMAA-BPAP-WAHTP ~ Modern Statistical Techniques Now Tell Marketers And Advertisers – Both Private And Political – Where And How To Phish

~ TWOAAMISAGTRMACTRS ~ The World Of Advertising And Marketing Is Still About Getting The Right Message And Creating The Right Story

~ BAOTBOFMSNABUTTD ~ Being Aware Of The Benefits Of Free Markets Should Not Also Blind Us To Their Defects

~ RE-PAAATR ~ Rankings Everywhere – People Are Addictively Attracted To Rankings

~ CTCR-AEAARAB ~ Compared To Cancer Research – Alcohol Epidemiology And Alcohol Research Are Backwaters

~ BFP ~ Bankruptcy For Profit

~ TCWKDTR ~ The Can Was Kicked Down The Road

~ TROMFR ~ The Role Of Misleading Financial Ratings

~ SE-PNCS-B-IF-WLIACOP ~ Standard Economics – Presumes No Civil Society – But – In Fact – We Live In A Community Of People

~ MP-ISWOO-COGNBOTO-‘S’-PATT-S-TAISTOSWANO ~ Most Phishing – In Some Way Or Other – Consists Of Grafting New Branches Onto The Old – “Stories” – People Are Telling Themselves – Sometimes – It Also Involves Supplanting The Old Story With A New One

~ MEIFTGWDAT-PNASTDHBSUTR ~ Modern Economics Inherently Fails To Grapple With Deception And Trickery – Peoples Naiveté And Susceptibility To Deception Have Been Swept Under The Rug

~ TPHTLOTDM ~ The Psychologists Have Their Lists Of These Dysfunctional Motivations

~ SODAUBOTSWATOAOS-TGUATCOM-TAUTUHMPFPH-TSAQM-JCPFAOCCTDTM ~ Since Our Decisions Are Usually Based On The Stories We Are Telling Ourselves About Our Situation – This Give Us A Transparent Characterization Of Motivation – That Allows Us To Understand How Most Phishing For Phools Happens – These Stories Are Quite Manipulable – Just Change People’s Focus And One Can Change The Decisions They Make

VIKTOR FRANKL ~ MAN’S SEARCH FOR MEANING

~ TLITS-TSITFMITS ~ To Live Is To Suffer – To Survive Is To Find Meaning In The Suffering

~ [S]HWHA-‘W’TLCBWAA-’H’ ~ [S]He Who Has A – “Why” – To Live Can Bear With Almost Any – “How”

~ SWFYPBYHFTTAI ~ Success Will Follow You Precisely Because You Had Forgotten To Think About It

~ NSRIAESCFADR ~ No Situation Repeats Itself And Each Situation Calls For A Different Response

~ NPOECTFYWYHE ~ No Power On Earth Can Take From You What You Have Experienced

~ AOTSIPOAAROTOTS ~ Actualization Of The Self Is Possible Only As A Result Of Transcendence Of The Self

~ TMOLACBINCTB ~ The Meaning Of Life Always Changes But It Never Ceases To Be

~ ACTLTIOMPTOP ~ A Challenge To Live Thoughts Instead Of Merely Putting Them On Paper

~ LAI-YWLFTST-AHAAWTFTAYAATAN ~ Live As If – You Were Living For The Second Time – And Had Acted As Wrongly The First Time As You Are About To Act Now