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Memes in the Watson category “/finance”

81–100 of 166

Why Economists Will Continue to be Wrong

Carter had initially used arbitrary parameters in his perfect model to generate perfect data, but now, in order to assess his model in a realistic way, he threw those parameters out and used standard calibration techniques to match his perfect model to his perfect data. It was supposed to be a formality--he assumed…

The Neccessity of Selective Attention

Three decades ago, cognitive scientist Colin Martindale advanced the idea that each of us has several subselves, and he connected his idea to emerging ideas in cognitive science. Central to Martindale’s thesis were a few fairly simple ideas, such as selective attention, lateral inhibition, state-dependent memory, and…

The Pareto Distribution

The Pareto distribution shows up in a remarkably wide array of complex systems. Together, “the” and “of” account for 10 percent of all words used in English. The most volatile day in the history of a stock market will typically be twice as volatile as that of the second-most volatile and ten times the tenth-most. Tag…

Predictability and the Base Rate

Whenever a statistician wants to predict the likelihood of some event based on the available evidence, there are two main sources of information that have to be taken into account: (1) the evidence itself, for which a reliability figure has to be calculated; and (2) the likelihood of the event calculated purely in…

How Coaches and Teachers Differ

Traditionally, coaches and teachers operate quite differently when working with groups of children. Coaches tend to teach for success. For example, suppose a coach is teaching the skill of dribbling a basketball. He or she first shows the children exactly what good, proper dribbling looks like. The demonstration may…

The Actuarial Math of Altruism

I have talked in elemental terms of suicidal genes for saving the lives of particular numbers of kin of exactly known relatedness. Obviously, in real life, animals cannot be expected to count exactly how many relatives they are saving, nor to perform Hamilton's calculations in their heads even if they had some way of…

Gender is Not Binary

he gender binary is the artificial division of the world into things that are "masculine" or "for men" and things that are "feminine" or "for women". One of the starkest ways to think of this is to consider the phrase "opposite sexes/genders" (as opposed to "different sexes/genders"), when both men and women are human…

Rule #1 Expand

Well, first thing’s first: we need to expand. We need to create a second base, and a third, and a fourth. We need to use our resources to build more resource-gathers, and fast. The enemy scouts are likely approaching already. How might we do that? Well, there are only so many ways to make money in this world. We…

Economics Uses Magical Language

A common feature in systems of magic is animism — attributing to inanimate objects the functions of life, assuming things to possess will, purpose, and power. It is significant (though quite in keeping) that "Economists" and "Financiers" have this characteristic at- titude of mind towards, and employ animistic forms…

Card Trick Involving Chance

A good card magician knows many tricks that depend on luck—they don’t always work, or even often work. There are some effects—they can hardly be called tricks—that might work only once in a thousand times! Here is what you do: You start by telling the audience you are going to perform a trick, and without telling them…

The Steel Man Argument

Sometimes the term "steel man" is used to refer to a position's or argument's improved form. A straw man is a misrepresentation of someone's position or argument that is easy to defeat: a "steel man" is an improvement of someone's position or argument that is harder to defeat than their originally stated position or…

The Point of Argument

The point of a good argument isn’t for one person to simply win over the other. It’s ideally for both to come away with cognitive gains. Even if the goal of an argument is to reach a decision, the goal isn’t to win, the goal is to define the parameters for a good decision and then make the best possible decision with…

Fossil Fuels are Humanity's "Starter"

Now we have comprehended and peeled off the layers of petals which disclosed not only that physical energy is conserved but also that it is ever increasingly deposited as a fossil-fuel savings account aboard our Spaceship Earth through photosynthesis and progressive, complex, topsoil fossilization buried ever deeper…

A Positive Spin on Automation

Our labor world and all salaried workers, including school teachers and college professors, are now, at least subconsciously if not consciously, afraid that automation will take away their jobs. They are afraid they won't be able to do what is called "earning a living," which is short for earning the right to live…

Nationalism in a Virtual World

As the game grew in international popularity, players from all over the world converged on the U.S. West server, leading to frequent overloading and lag in game play. The problem became particularly acute when Diablo II was released in Korea. Within a few weeks of its release, Diablo II sold 300,000 copies, making it…

Tension Facilitates Change

You may well ask: "Why direct action? Why sit ins, marches and so forth? Isn't negotiation a better path?" You are quite right in calling for negotiation. Indeed, this is the very purpose of direct action. Nonviolent direct action seeks to create such a crisis and foster such a tension that a community which has…

New Money is Created with Promises

Ordinary people can help create new money by making promises. You constrain the future by making a plan, and a promise to keep to it. Money is created in response, because in making that promise you have created value. New money is created to represent that value. This is why it is possible for banks to fall apart…

Sociological Metaphors for the Public

Social science and philosophy have generated a vast number of other metaphorical descriptions of the public, rooted in different and often scientific perspectives on systematicity and relation. These are technologies in the broad sense that they enable different kinds of questions to be asked. An account of these…