You don’t have to actually think that legislating and raising the minimum wage will help low-skilled workers earn more money. That’s not the point. The point is to display your correct political religion.
Online companies might not be as nefarious as you think.
There are two kinds of people in the world, those who divide things in two and those who don’t.
Episode 059 looks at the logical fallacy Context Imposition (aka Fantasy Projection) and the Hedonic Treadmill cognitive bias.
Had a chat recently with a fellow redditor in the r/shitstatistssay subreddit (ironically) regarding the applicability of the United States Constitution, or any government constitution or legal code for that matter. As shown below, all the evidence offered in support of this claim are beliefs and opinions. That’s all these people can every offer, faith.
The word “money” comes from the Latin moneta, which is where coins of precious metal were made and stored. Precious metals naturally rose to the top of money markets because they are scarce, long-lasting, and valued by weight. Gold in particular became the standard for money because it is uniquely suited to serve the purposes of money.
I had a little back and forth in the comment section on one of my recent podcast episodes with my friend Alex Knight (ARK3). I thought I’d reproduce it here in all it’s glory.
Episode 056 looks at Affirming the Consequent logical fallacy and the cognitive biases Primacy Effect and Recency Effect.
Unsurprisingly, not all economists agree on how to approach what used to be called “political economy”. Adam Smith in 1776 defined it as “an inquiry into the nature and causes of the wealth of nations”. It was understood that the default state of mankind was poverty, so the question was how people become wealthy.
I don’t have to have solid true/false answers to everything. Nor do I need to pretend such answers don’t exist. I can approach what I know directly with high probability and lower it with each step beyond experience.