Model Thinking

When someone has skin in the game, they have some stake in the outcome of their opinion or decision. They are incentivized to act in their own best interest, naturally aligning them with the best outcome. It mitigates effects like moral hazard, which misaligns incentives of the parties in an interaction based on an asymmetry of knowledge, power, and/or other factors.

The metaphor of skin in the game also relates to a number of core concepts in moral philosophy:

  • moral hazard
  • fairness
  • justice
  • transparency
  • authenticity
  • integrity
  • responsibility
  • good faith
  • honor
  • honesty
  • truthworthiness
  • forthrightness
  • earnestness
  • steadfastness
  • being true to one’s word

The term “skin in the game” is said to have originated from gambling, where it denotes having a personal stake or investment in an endeavor. In a broader sense, it implies that individuals or entities have something of personal value at risk in the outcome of a situation, typically financial or reputational.

Ethical implications

  1. Accountability and Responsibility: When an individual or entity has “skin in the game,” they are more likely to act responsibly and ethically. This stems from the direct impact their actions will have on their own welfare. For example, a business owner with a substantial personal investment in their company is more likely to make decisions that ensure long-term sustainability over quick, risky profits that could jeopardize the business.
  2. Trust and Credibility: In contexts like financial advising or political leadership, having “skin in the game” builds trust. Stakeholders are more likely to trust someone who shares in the risks and rewards. It demonstrates a commitment to shared outcomes, which can be a strong ethical foundation.
  3. Moral Hazard Reduction: The concept helps mitigate moral hazards—situations where one party takes risks because another party bears the cost of those risks. For instance, if a CEO’s compensation is tied to the company’s performance, they have a vested interest in the company’s success, reducing the likelihood of risky behavior that could harm the company while benefiting themselves personally.

Aligned incentives

The notion of “skin in the game” is closely linked to the alignment of incentives, which is crucial for effective and ethical decision-making.

  1. Mutual Interests: When all parties involved in a decision or project have something at stake, their interests become more aligned. This alignment leads to decisions that are more likely to benefit all involved, rather than favoring one party at the expense of others.
  2. Long-term Planning: Aligned incentives encourage long-term thinking. When decision-makers share in the long-term risks and rewards, they are incentivized to plan for sustainable growth and stability.
  3. Risk Sharing: It also implies a fair distribution of risks. In a well-aligned system, no single party bears an undue burden of risk, which fosters a more equitable and ethical environment.

Skin in the game quotes

The price of greatness is responsibility.

Winston Churchill

Top Mental Models for Thinkers ↗

Model thinking is an excellent way of improving our cognition and decision making abilities.

28 Cognitive distortions list ↗

Cognitive distortions are bad mental habits and unhelpful ways of thinking that can limit one’s ability to function in the world.

24 Logical fallacies list ↗

Recognizing and avoiding logical fallacies is essential for critical thinking and effective communication.

Read more

Words, words, and more words.

In a world of increasing disinformation, it’s more important than ever to be armed with actual information. And being curious about the meaning, nature, and origins of things is a rewarding journey in and of itself.

Think of these dictionaries as tools for your mind — they can help you make connections between concepts, understand the terminology being used in the media and all around you, and feel less lost in a sea of dizzying complexity and rapid change. A fantastic vocabulary also helps you connect with people near and far — as well as get outside your comfort zone and learn something new.

Dictionaries List

This section includes dictionaries and definitions of important terms in important realms — and is continually being built out. Stay tuned!

Terms and Concepts

Authoritarianism and American Fascism

Authoritarianism is a political system where a single leader or a small group holds significant power, often without the consent of the governed. Decisions are made by authorities without public input, and individual freedoms and democratic principles are usually suppressed. The government may control various aspects of life, including media and the economy, without checks and balances. This leads to a concentration of power that can foster corruption and human rights abuses. In an authoritarian regime, obedience to the authorities is often emphasized over personal liberties and democratic participation.

Psychology

Definitions and terms relating to the study of the mind, including ideas from social psychology, political psychology, positive psychology, and Buddhist psychology.

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Logical fallacies are errors in reasoning that occur when arguments are constructed or evaluated. They are deceptive and misleading, often leading to false or weak conclusions. Recognizing and avoiding logical fallacies is essential for critical thinking and effective communication.

These flaws in rhetorical logic can be observed aplenty in modern political and civil discourse. They are among the easiest types of argument to dispel, because their basic type has been discredited and compiled together with other discarded forms of rational persuasion, to make sure that ensuing generations don’t fall for the same tired old unethical ideas.

By understanding and identifying these common logical fallacies, individuals can sharpen their critical thinking skills and engage in more productive, rational discussions. Recognizing fallacies also helps avoid being swayed by deceptive or unsound arguments — which abound in increasing volume thanks to the prevalence of misinformation, disinformation, and disingenuous forms of motivated reasoning.

Types of logical fallacies

There are several types of logical fallacies, each with its own pitfalls. Here are a few examples:

The Straw Man argument, illustrated
  1. Ad Hominem: This fallacy attacks the person making the argument rather than the argument itself. For instance, dismissing someone’s opinion on climate change because they’re not a scientist is an ad hominem fallacy.
  2. Straw Man: This involves misrepresenting an opponent’s argument to make it easier to attack. If someone argues for better healthcare and is accused of wanting “socialized medicine,” that’s a straw man.
  3. Appeal to Authority: This fallacy relies on the opinion of an “expert” who may not actually be qualified in the relevant field. Just because a celebrity endorses a product doesn’t mean it’s effective.
  4. False Dichotomy: This fallacy presents only two options when, in fact, more exist. For example, stating that “you’re either with us or against us” oversimplifies complex issues.
  5. Slippery Slope: This fallacy argues that a single action will inevitably lead to a series of negative events, without providing evidence for such a chain reaction.
  6. Circular Reasoning: In this fallacy, the conclusion is used as a premise, creating a loop that lacks substantive proof. Saying “I’m trustworthy because I say I am” is an example.
  7. Hasty Generalization: This involves making a broad claim based on insufficient evidence. For instance, meeting two rude people from a city and concluding that everyone from that city is rude is a hasty generalization.

Understanding logical fallacies equips you to dissect arguments critically, making you a more informed participant in discussions. It’s a skill that’s invaluable in both professional and personal settings. Arm yourself with knowledge about this list of logical fallacies:

Logical fallacyExplanationExample / Notes
ad hominem attackattacking something about the character of the opposing side, instead of engaging with the argument or offering a critique
ambiguityusing double meanings and language ambiguity to mislead
anecdotalappeal to a personal, individual observation as relates to the topic in questionoften used to dismiss statistical analysis
appeal to authorityusing opinion of authority figure or institution in place of an actual argument
appeal to emotionmanipulating emotional response in lieu of valid argumenta huge part of Donald Trump's playbook
appeal to naturearguing that b/c something is “natural” it is valid / justified / inevitable / good / ideal
bandwagonappealing to popularity as evidence of validationRetort: "When everyone once believed the earth was flat — did that make it true?"
begging the questionwhen conclusion is included in the premiseone form of circular argument (tautology is another)
black or whitepresenting two alternative states as the only options, when more possibilities existvery commonly used by political and media resources as a way to polarize issues
burden of proofclaiming the responsibility lies with someone else to disprove one's claim (& not with the claimant to prove it)
composition/divisionassuming what is true of one part of something must be applied to all parts
fallacy fallacypresuming that a poorly argued claim, or one in which a fallacy has been made, is wrong
false causepresuming that a real or perceived relationship between things implies causation
gambler's fallacyputting a tremendous amount of weight on previous events, believing they will influence future outcomes (even when outcome is random)also a psychological bias
geneticvalue judging based on where something comes from
loaded questionasking a question with an assumption built in, so it can't be answered without appearing guilty
middle groundclaiming a compromise between two extremes must be the truththe media establishment is often guilty of this for a number of reasons: lack of time for thorough inquiry; need for ratings; available field of pundits and wonks; established programming formats, and so on
no true scotsmanmaking an appeal to purity as a way to dismiss relevant criticisms or flaws
personal incredulitysaying that because a concept or argument is difficult to understand, it can't be true
slippery slopearguing that a small change or decision will inevitably lead to larger-than-intended (perhaps even disastrous) consequences rapidly
special pleadingmoving goalpost to create exceptions when a claim is shown to be false
strawmanmisrepresenting someone's argument to make it easier to attack
texas sharpshootercherry-picking data to suit an argument, or finding a pattern to fit a presumptionthe impending era of big data will increase the prevalence of this type of sheister
tu quoqueavoiding having to engage with criticism by criticizing the accuser

Read more:

30 Common Psychological Biases ↗

These systematic errors in our thinking and logic affect our everyday choices, behaviors, and evaluations of others.

28 Cognitive Distortions ↗

Cognitive distortions are bad mental habits. They’re patterns of thinking that tend to be negatively slanted, inaccurate, and often repetitive.

Think Better with Mental Models ↗

Mental models are a kind of strategic building blocks we can use to make sense of the world around us.

Read more

The Stanford Prison Experiment is a seminal study in the field of social psychology, offering profound insights into the dynamics of power, authority, and human behavior. Conducted in 1971 by psychologist Philip Zimbardo, the experiment aimed to investigate the psychological effects of perceived power and authority within a simulated prison environment. Zimbardo’s Stanford Prison Experiment set the stage for deeper explorations of the ways in which individualist doctrines of western nations tend to overweight the role of the individual (dispensational attribution) while underweighting the role in the situation and social milieu of the setting.

The Experiment Setup

Zimbardo and his team transformed the basement of Stanford University’s psychology building into a mock prison. Participants, who were college students, were randomly assigned roles as either “guards” or “prisoners.” The guards were given uniforms, sunglasses to prevent eye contact, and batons, while the prisoners were stripped of personal identity, referred to by numbers, and subjected to various forms of psychological manipulation and humiliation designed to dehumanize them in the eyes of their faux captors.

Zimbardo's Stanford Prison Experiment, by Midjourney

The Unfolding

The Zimbardo’s Stanford Prison Experiment was initially planned to last two weeks but had to be terminated after just six days due to the extreme and disturbing behavior exhibited by the participants. The guards became increasingly sadistic, employing psychological torture techniques, and the prisoners showed signs of extreme stress, depression, and helplessness. The environment became so toxic that some prisoners had to be released early due to emotional breakdowns.

Ethical Concerns

The study has been widely criticized for its ethical shortcomings. Zimbardo himself acted as the “prison superintendent,” and his failure to intervene has been seen as a significant ethical lapse (he shares this sentiment, and has been vocal about examining his own role in the profoundly disturbing results of his experiment). The lack of informed consent and the emotional and psychological harm caused to the participants have also been points of contention in the academic community.

Before this study, though, I think it was counterintuitive to assume that otherwise decent, law-abiding good people could be turned into snarling sadists so quickly, in the right circumstances. And the reality of that truth disturbs us and the field of social psychology to this day.

Social Psychological Learnings

Despite its ethical issues, the Zimbardo’s Stanford Prison Experiment offers invaluable insights into human behavior and social psychology:

  • Deindividuation: The guards’ uniforms and sunglasses served to deindividuate them, making it easier for them to engage in cruel behavior without feeling personally responsible.
  • Social Roles and Conformity: Both guards and prisoners conformed to their assigned roles to a disturbing extent, highlighting the power of social roles in shaping behavior.
conformity, by Midjourney
  • Authority and Obedience: The experiment showed how ordinary people could commit atrocious acts when they perceive themselves to be following authoritative commands.
  • Situational vs. Dispositional Factors: The study emphasized the influence of situational factors over dispositional ones in determining behavior. It argued that the environment could significantly impact how individuals act, as opposed to inherent personality traits.
  • Ethical Considerations in Research: The study serves as a cautionary tale for ethical considerations in psychological experiments, leading to stricter guidelines and review boards for research involving human subjects.

Implications and Legacy

The Zimbardo Stanford Prison Experiment has had a lasting impact on psychology, ethics, and our understanding of human behavior. It has been cited in various contexts, from understanding the abuses at Abu Ghraib prison to corporate misconduct a la Enron, et al. While the study’s ethical lapses have led to ongoing debates, its findings remain a crucial part of social psychology curricula and continue to inform our understanding of the human psyche.

Zimbardo’s Stanford Prison Experiment serves as both a revealing exploration of the dark corners of human behavior and a cautionary tale for ethical conduct in scientific research. It provides a complex, multifaceted look into the social psychological mechanisms that can lead ordinary people to commit extraordinary acts of cruelty or submission.

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phobia indoctrination, illustrated

Phobia indoctrination is one of the principle ways a charismatic leader will lull potential followers into his thrall, by putting them into a state of perpetual fear and anxiety. They know, either instinctively or through training (or both), that people can be induced into a prolonged state of confusion easily, and that many people in states of confusion act quite irrationally. Abusers, cult leaders, and other controllers use demagoguery and other tricks to hide in plain sight and continue to accrue power while passing themselves off as harmless or extremely patriotic.

These chaos agents use emotional manipulation and other tactics of emotional predators as a tool of control. They whip followers up into a fear frenzy frequently enough to instill a set of phobia-like instinctual reactions to chosen stimuli. In addition to stoking fears of the enemies at the gates, they also inculcate irrational fears of the consequences of questioning their authority — invoking authoritarianism. Any doubts expressed about the leadership or its doctrine are subject to terrifying negative results. Cults use this formula to wield undue influence over followers, and prevent them from questioning or leaving the group.

Phobia indoctrination is a tool of cults

As part of a larger overall program of brainwashing or mind control, cults and destructive organizations use imaginary extremes (going to hell, being possessed by demons, failing miserably at life, race war, Leftist apocalypse, etc.) to shock followers into refusing to examine any evidence whatsoever. A form of unethical hypnosis, phobia indoctrination can now be carried out on a mass scale thanks to the internet and our massive media apparatus. Be sure to be on the lookout for any cult warning signs in groups and messaging all around you.

Sociopaths and other types of emotional predators are taking ample advantage of their advantage in time and distance over the slow pace of justice. The wielding of fear as a cudgel in American politics has reached a fever pitch, with anti-Critical Race Theory hysteria, anti-vaxxers, anti-government types, anti-science, Lost Cause-revival zombie MAGA footsoldiers screeching about the “freedom!!!” they wish the government to provide them for persecuting their enemies, and other social horrors are merely the tip of the climate changing iceberg.

phobia indoctrination, illustrated

Phobia indoctrination tactics

Strategies of phobia indoctrination include Repetition and Conditioning, where fears are built through constant exposure; Misinformation and Propaganda, using false information to paint something as dangerous; Utilizing Existing Fears, exaggerating known fears or anxieties; and Social Pressure and Group Dynamics, leveraging social influences to convince others that irrational fears are common.

Other tactics include Authority and Expert Manipulation, where false credentials are used to lend legitimacy; Emotional Manipulation, appealing directly to emotions; Isolation and Control, where a person’s environment is manipulated; and Media Manipulation, using media to provoke fear.

Phobia indoctrination and cults book list:

Or, support local bookstores instead of Jeff Bezos:

Related to phobia indoctrination:

Cult Dictionary ↗

We had better get familiar with the lexicon and vocabulary of the coming era, so we can fight the creeping scourge of thought control roiling the land.

Jim Jones toasting his cult members with a cup of cyanide, by Midjourney

Disinformation Dictionary ↗

Disinformation is meant to confuse, throw off, distract, polarize, and otherwise create conflict within and between target populations.

Disinformation, by Midjourney

Cult Warning Signs: How to recognize cultish groups ↗

Recognizing cult warning signs can be vital in identifying and understanding the risk before getting involved with a group who may not have your best interests in mind.

cult warning signs, by Midjourney
Read more

tunnel vision model

Tunnel vision is both an actual physical condition, and a metaphor for a myopic type of thinking. In the former, people who experience tunnel vision have a loss of peripheral vision that results in a constricted, circular field of vision akin to looking through a tunnel. In the cognitive metaphor, tunnel vision refers to a resistance to considering alternative points of view or potential solutions to a problem. Whether due to conviction in one’s position or mental laziness in exploring other options, tunnel vision can be dangerous and lead to deleterious outcomes.

Motivated reasoning is a closely related concept to tunnel vision, in that both phenomena feature someone being predisposed to a specific belief or outcome. In both there is a tendency to back a certain course of action even before evidence is available or fully examined, and to continue to hold that position regardless of any new evidence that may come in that challenges the preferred narrative. Tunnel vision can lead to bad decisions, because focus is being placed on a favored outcome while ignoring potentially much better solutions or courses of action.

Key aspects of tunnel vision

  1. Limited perspective: Tunnel vision in decision-making occurs when people fail to consider the bigger picture or explore alternative viewpoints. They may become fixated on a specific goal, approach, or outcome, which prevents them from recognizing other potentially more effective or beneficial options.
  2. Confirmation bias: This cognitive bias occurs when people selectively focus on information that supports their pre-existing beliefs or assumptions, while disregarding or downplaying evidence that contradicts them. This biased thinking reinforces tunnel vision and leads to poor decision-making. Related to: motivated reasoning.
  3. Groupthink: In group settings, tunnel vision can be amplified by groupthink, a psychological phenomenon where members of a group prioritize conformity and harmony over critical evaluation and independent thinking. This can result in a narrow-minded consensus that overlooks important information and alternative perspectives.
  4. Emotional factors: Strong emotions, such as fear, stress, or overconfidence, can also contribute to tunnel vision in decision-making. These emotions may cloud judgment, cause people to fixate on specific aspects of a situation, and prevent them from thinking objectively and rationally.
  5. Inability to adapt: Tunnel vision can lead to rigidity and an inability to adapt to changing circumstances. Decision-makers may stubbornly cling to their initial plans or beliefs, even when faced with new information or challenges that call for a different approach.

How to avoid tunnel vision

To mitigate tunnel vision in decision-making, it’s essential to cultivate self-awareness, engage in critical thinking, and actively seek out diverse perspectives and alternative solutions. By challenging assumptions, being open to new information, and considering a broader range of factors, individuals and groups can make more informed and effective decisions.

brainstorming, by Midjourney
  • Get a second opinion
  • Have a brainstorming session to evaluate other points of view
  • Take a break for a while and come back to the problem or issue again after some time away from it
  • Do thought experiment exercises where you put yourself in someone else’s shoes and try to imagine how they would solve the problem, or what decision they might make given their own interests and beliefs.

More about how we think:

Think Better ↗

Mental models are a kind of strategic building blocks we can use to make sense of the world around us.

Mental Self-Defense ↗

You may not know it yet but you’ve been drafted into a war. A conflict of cognitive warfare, in which the battlefield is your mind.

30 Common Psychological Biases ↗

These systematic errors in our thinking and logic affect our everyday choices, behaviors, and evaluations of others.

Read more

Top Mental Models for Thinkers

Mental models are different ways of mapping or viewing a system or a problem. They are frameworks that help explain what’s going on, and predict what’s likely to happen next.

Model thinking is an excellent way of improving our cognition and decision making abilities. Thinking in models helps us understand how new concepts fit with older observations, and what theories and metaphors are likely to endure.

They are useful in strategy, decision-making, analysis, planning, and a broad range of applications in both our personal and professional lives. It’s a good investment to spend time learning models — which are most typically extensible outside their original field of interest.

Often more than one model can apply to a situation or problem. Models are useful for picturing the issue in a different way, through a different lens — and perhaps to see something before unseen. They can help us try out different scenarios with ideas or personas.

Top Models and Concepts

We all have learnings in our lives we consider more precious than others — explanations and predictions that endure and keep on giving, versus those that fade away. Our core models form the backbone of our thinking and decision-making throughout our lives; it’s our grab bag of problem solving tools — and we want to have a resilient Swiss Army Knife at the ready at all times. These mental models help us understand a complex world, and prepare for all the changes that are inevitably ahead.

This set of top models below is my personal “desert island” set of model thinking concepts. These are the ones I really wouldn’t want to be caught dead leaving the house without.

Once these are on lock, head over to the unabridged models section for more model thinking goodness!

I will continue to add to this list over time as well as fill in the number of holes that remain in the set. Learning about new mental models is one of my favorite activities — it’s the closest thing to a superpower I can think of.

TermTypeTopicDefinition
80/20 ruleModelEconomicsAlso known as a power law, or the Pareto Principle
absolute advantageTermEconomicsThe ability of a party to produce a product or service more efficiently than any of its competitors.
absolute valueTermMathThe value of a function irrespective of its sign (positive or negative). Its distance from zero, expressed as a positive.
accessibilityTermPsychologyHow easy something is to call to mind
acquittalLegal precedentLawA judgment of not guilty in a criminal trial
activation energyTermScienceA chemistry term that describes the minimum energy required for a chemical system to react; the amount of energy required to get two or more compounds to react.
adverse selectionTermEconomicsInsurance phenomenon in which buyers or sellers in a transaction can use insider knowledge to unfairly get a better advantage over the other party or parties
a fortioriLogicLogicFrom the Latin, "from a stronger argument," the phrase refers to conclusions for which there is stronger evidence than a previously accepted one.
akrasiaTermPsychologyA state of mind where someone acts against their own better judgment due to weakness of will.
alea iacta estMetaphorMetaphorIn Latin, "the die is cast" -- attributed to Julius Caesar as he crossed the river Rubicon, leading an attack on Rome: a metaphor for a point of no return.
allocationMethodEconomicsDistributing resources, assets, or funds amongs recipients.
"All the world's a stage“MetaphorArtsShakespearean metaphor likening culture to a theatrical performance: "And all the men and women merely players; They have their exits and their entrances ..." —William Shakespeare, As You Like It
Amara's LawTheoryScienceWe tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.
annuityTermEconomicsA series of regular payments at equal intervals.
antifragilityModelEconomicsThings that can benefit from disorder, and grow stronger amidst chaos. When something grows stronger under stress; when there is more upside to downside of experiencing a shock to the system.
antimatterTheoryScienceAntimatter particles are the precise opposite charge and spin from their matter counterparts, but identical otherwise.
appreciationModelEconomicsThe tendency of an asset to appreciate, or grow, with value over time.
a prioriLogicPhilosophyInformation deduced from logical precedents versus empirical observation.
arbitrageModelEconomicsA method of turning profit via simultaneous purchase and sale of the same assets in different markets, benefiting from the differences in listed price in various geographical regions.
archetypesSymbolPhilosophyAn ideal type; a model after which others are fashioned.
arrow of timeTheoryScienceTheory of physics stating an asymmetry of time -- that time has a one-way direction in which the entropy of the universe is only increasing. Although human beings perceive the past as being different from the future -- and that we remember the past, but not the future -- intrinsically there is nothing in the structure of the universe that defines past from future. Time is instead an emergent feature.
artificia docuit famesAncient WisdomPhilosophyLatin saying meaning, "sophistication is born out of hunger" -- a metaphor for innovation and genius being awakened by challenge, difficulty, and constraints.
ASCIITermTechnologyAmerican Standard Code for Information Interchange: a standard character translation table used by computers to convert numerical representations into printable characters.
asking a fish about waterMetaphorMetaphorThere are these two young fish swimming along, and they happen to meet an older fish swimming the other way, who nods at them and says, “Morning, boys. How’s the water?” And the two young fish swim on for a bit, and then eventually one of them looks over at the other and goes, “What the hell is water?”
assetTermEconomicsA valuable object or good.
astroturfingMethodPoliticsThe deceptive political practice of paying operatives to pose as members of the public engaging in "grassroots protest" as a way of adding plausible deniability as well as amplification of their point of view.
asymmetric encryptionTermComputer ScienceAlso known as public-key cryptography, asymmetric encryption encrypts and decrypts the data using two separate keys that are related mathematically (a public and a private key).
asymptoteTermMathThe graph of a curve as it is approaching a numerical value or limit, but never quite reaching it.
autophagyExperimental findingBiology, MedicineThe body's way of cleaning out damaged cells and replace them with newer, healthier cells. Literally, "self-eating."
availability biasModelPsychologyCognitive distortion arising from the unconscious preference for information that is recent rather than what is representative.
averageMethodMathA measure of central tendency of a set of data, whether the mean, media, or mode.
balance sheetMethodEconomicsA financial document showing the book value of a company, i.e. how much it's worth.
balancing loopModelSystems theoryA balancing loop attempts to move a current state (the way things are) to a desired state (goal or objective) though an action (thing(s) done to reach the goal).The balancing loop is one of the two foundational structures of systems thinking, along with the Reinforcing Loop. A balancing loop is representative of any situation where there is a goal or an objective and action is taken to achieve that goal or objective.
Baldwin EffectModelScienceAs organisms learn to shape their environment, they can alter the path of evolution. For example, with the advent of dairy farming, selection pressures began favoring lactose absorption genes in humans.
bank reservesTermEconomicsCash minimums banks must have on hand to meet regulatory requirements ensuring the financial system is equipped to handle periodic shocks in demand for withdrawals.
bank runTermEconomicsEconomic term for when a large group of bank depositors withdraw their money all at once -- once a common occurrence that rarely happens anymore in the modern world.
base conversionMathMathThe base is how many numbers there are in a number system; we use base 10 primarily, and computers use base 2, aka binary. Base conversion is the method of converting numbers from one base system to another.
Base Rate FallacyModelPsychologyA type of fallacy in which people tend to ignore the general prevalence of something in favor of specific anecdotes.
base weightingMathStatistics
Bayes' TheoremMethodMathA mathematical method of determining the updated probability of a certain event or case, given new information.
bend the kneeMetaphorSocial psychologyGive up one's own opinion and swear fealty to a higher authority.
betaMethodEconomicsIn finance, a term that refers to investments tracking the broad market performance of an exchange or industry sector
The Big BangModelScienceThe massive explosion which spawned our entire universe, back at the beginning of time.
The Big CrunchModelScience
binary numbersMathMath
binomial distributionMathStatistics
Binomial TheoremTheoryMath
black holeTheoryScience
Black-Scholes modelModelEconomics
Black SwanModelEconomicsA highly improbable and unexpected event -- which yet occurs with more frequency than one might generally assume.
blockchainTermTechnologyThe basis of cryptocurrency, blockchain technology is a kind of public ledger or shared database that records transactions transparently and out in the open, in a way that anyone can access or verify.
boiling frogMetaphorPhilosophyA metaphor for the common occurence of slow, gradual changes over time not being noticed, like the (contested) legend of a scienfitic experiment that boiling a frog alive by starting with tepid water and slowly turning up the temperature.
bondMethodEconomics
Boyle's LawScientific LawScienceA scientific law that describes the relationship between the pressure and the volume of a confined gas.
boundary objectTheoryTechnologyInformation science concept describing information used in different ways, by different communities, for collaborative work through scales.
bounded rationalityExperimental findingPsychologyA central challenge to the c. 1776 ideas of Adam Smith regarding the Invisible Hand of markets, this 20th c. psychological theory posits that rather than making optimized rational decisions, at most times the average person is "satisficing" or making the most expedient choice under considerable constraints and lack of available information
bricolageMethodArtsCombination of many types and forms into one piece; a pastiche or mashup of style and cultural referents
broken windows theoryTheoryLaw
Butterfly EffectModelScience
bystander effectExperimental findingPsychology
cadenceTermArts
camel's noseMetaphorPhilosophya metaphor describing how allowing a smaller innocuous act may lead to larger acts that are undesirable
capital gainsTermEconomicsMoney that is earned as a result of a stock investment appreciating in value — the capital "gains in value"
capital requirementsEconomicsActual cash on hand for banks to theoretically offer at a given time, with the rest lended out as leverage
carbon-14Scientific LawScience
carbon datingMethodScienceA way to scientifically determine the age of an organic object by radioactive decay.
carpe diemAncient WisdomPhilosophyIn Latin, "seize the day" -- a reference often used to motivate oneself and others to act boldly and live vigorously in the moment.
cartelEconomics
catalystModelScience
categorical dataMath
causa-sui projectTheoryPsychology
cause and effectModel
caveat emptorAncient WisdomStrategy"Beware, the buyer" in Latin -- a reference to a warning about what one is getting into.
cellular automataMath
Central Limit TheoremMathStatisticsIn probability theory, the CLT establishes that independent random variables when measured will tend towards the normal distribution.
central tendencyMathStatisticsA measure of the midpoint of a data set; includes mean, median, and mode.
ceteris paribusMethodEconomics"All other things being equal"; holding the effects of other variables constant to determine the effects on a single variable of interest.
charge preservationScience
charlatanPsychologyone who aspires to wealth &/or fame through trickery and deception
Chesterton's FenceModelMetaphor
chilling effectTermHistoryThe inhibition of one's legitimate exercise of natural and legal rights by threat of legal sanction.
cognitive biasExperimental findingPsychology
collapseModelSystems theory
comparative advantageEconomics
composite eventsStatisticsin probability
compound interestModelEconomics
conditionalsMath
Condorcet Jury TheoremMathStatistics
confidence intervalStatisticsthe range of values over which a predicted outcome may lie; the amount of certainty one has about the predicted value falling within the estimated range
confirmation biasExperimental findingPsychology
conflationPsychology
consent of the governedPhilosophyPoliticsConcept of political philosophy in which a government's legitimacy and right to use state power is only justified if consented to by the people over whom said power is wielded.
consequentialismPhilosophy
conservation of energyScientific LawChemistryIn a closed system, total energy remains constant.
conservation of massScientific LawPhysicsIn a closed system, mass remains constant.
conservation of momentumScientific LawPhysicsIn a closed system, momentum remains constant.
constraintsMath
Consumer Sentiment IndexEconomics
continuous vs. discrete variablesStatistics
Copernican theory of the solar systemScientific LawScience
correlationStatistics
correlation coefficientStatistics
correlation is not causationScientific LawStatistics
cosineMathMath
counterfactual
countervailing powerEconomicsEconomist John Kenneth Galbraith's concept for how collective worker power is needed to balance against growing corporatism in the economy.
creative destructionModelEconomicsEconomist Joseph Shumpeter's idea for how the business cycle works: by innovation disrupting established processes and industries and forcing change into markets, often destructively and swiftly.
credo quia absurdum"I believe because it is absurd" — Tertullian's defense of belief in the miracles attributed to Christ
critical massScience
crossing the RubiconMetaphorHistoryMaking a decision from which there is no turning back; a reference to Julius Caesar's overthrow of the Roman republic to found the Roman Empire in 49 BCE.
cross-sectional dataMath
crowdfundingEconomics
crowdsourcingMethodSystems theory
cryptocurrencyEconomics
Dark MatterTheoryScience
dead hand of the pastPhilosophyHistoryProblem inherent in constitutional political philosophy, where eventually a people becomes ruled by "masters" no longer alive, who rule by "fiat" via a document, from beyond the grave (Thomas Jefferson's concept)
death spiral
decision theorySystems theory
decision treeMethodComputer Science
de minimisLegal precedentLaw
depreciationMethodEconomics
derivativesMath
diminshing marginal utility (DMU)ModelEconomics
directory structureComputers
dispersionMathStatisticsthe amount of variation within a set of data; how spread out the data points are from each other
distributionsMathStatistics
divergent thinkingPsychology
diversityExperimental findingScience
Diversity Prediction Theorem
dividend paymentsMethodEconomicsPeriodic, usually quarterly, payouts to stockholders of the company when posting profits. Along with capital gains, one of the 2 primary reasons to invest in stocks.
Dodd-Frank Act of 2010Legal precedentEconomicsdefinitive financial regulation of the financial industry following the 2007-8 financial crisis
domain dependence
Doppler EffectScientific LawPhysics
double helix
doxaSocial psychologycommon belief or opinion
Drake EquationModelScienceEstimation of the number of technological civilizations that might exist in the universe.
dualismPhilosophy
Dunbar numberTheoryPsychology
Dunning-Kruger EffectExperimental findingPsychologyA cognitive bias in which people mistakenly assess their cognitive ability as higher than it actually is, because they cannot recognize their incompetence in comparison to others.
Duverger's LawModelPoliticsHolds that plurality-rule elections within single member districts — such as the structure found in the U.S. — tend to favor two-party systems
Easterlin paradoxExperimental findingEconomicsBeyond a certain point, countries don't get happier as they get richer.
economies of scaleEconomics
edge caseMetaphorScience
elasticity; price elasticityModelEconomicsThe ability of pricing mechanisms to respond quickly or less quickly to changes in prevailing conditions.
elasticity of demandModelEconomics
elasticity of supplyModelEconomics
electromagnetic spectrumScientific LawScience
electron cloudModelScienceRefers to the true nature of an electron's existence around an atom, wherein its location in space is not a definite point, but a fuzzy region of probable occurence.
elephants and fliesMetaphorEconomicsSales concept to quickly segment leads into size buckets, from elephants > deers > rabbits > mice > flies.
elephant and riderModelPsychologyPsychological idea about how our unconscious and semi-conscious desires dominate us, but can be directed by reason (Jonathan Haidt et al)
embargoLegal precedentEconomics
Emperor's New ClothesMetaphorGovernment
encryptionMath
ensemble learningMethodTechnology
entropyScientific LawScienceThe disorder of a system increases over time.
epistemologyPhilosophy
e pluribus unumSymbolPoliticsLatin: "one out of many" — one of several phrases on the American dollar bill, it refers to the unity of the nation as made up of its many peoples and as such, signifies the republic.
equality under lawLegal precedentPoliticsAn ancient principle of vital importance to almost every constitution in the world, stating that all people should be treated equally in the eyes of the law, and that all individuals are subject to the same set of laws
equilibriumScienceA resting condition all systems seek, in which all competing inflows and outflows are in balance.
equityEconomics
equity crowdfundingEconomics
error-embracingPsychology
event horizonScientific LawPhysicsA boundary beyond which events cannot affect on observer, such as the edge of a black hole.
evolutionScientific LawScience
exception handlingMethodComputer ScienceThe process of responding to the occurrence of exceptions -- unexpected conditions that throw the application into an error state and must be resolved before continuing.
exchange ratesEconomicsThe value of one country's currency as measured against another
existentialismPhilosophy
exit strategyMethodEconomics
externalitiesEconomics
extrapolationStatistics
factorialMath
factum tacendo, crimen facias acriusPhilosophyHe who does not stop a crime is an accomplice.
fact /value problemPhilosophy
fake newsMedia
false negativesLogicScience
false positivesLogicScience
false consensus effectExperimental findingSocial psychology
falsifiabilityLogicScienceAbility to be proven untrue; a requirement for a theory to be called scientific.
Feynman TechniqueMethodScienceA method of learning and remembering difficult concepts by simplifying them until you can explain it to a new student or layperson who knows nothing about that concept.
fiat moneyEconomics
fiduciary dutyLegal precedentEconomics
fifth columnModelPoliticsA group who unites in secret to undermine a larger group from within.
file systemMetaphorComputer Science
filter bubbleMetaphorSocial psychology
first mover advantageExperimental findingStrategy
first principlesAncient WisdomPhilosophy
fishing expeditionMetaphor
fitness functionTermScienceIn AI, refers to a set of selection criteria applied to a set of potential solutions to a problem to allow only the better candidates to survive to the next generation.
flâneurTermArts
force multiplierModelScience
fractalsMathComputer Science
fractional lendingMethodEconomicsFractional reserve banking is the traditional way of doing business, in which banks loan out multiples of the assets they actually have on hand. This falls apart if there is ever a run on the bank, when every client demands their money back at the same time.
fractionsTermMath
fragilityPhilosophy
framingPsychology
free tradeMethodEconomics
free willPhilosophyPhilosophy
freshwater vs. saltwater economistsEconomics
Friend of the Court filingLaw
FUD (Fear, Uncertainty, and Doubt)Social psychology
fundamental attribution errorExperimental findingPsychology
future valueEconomics
gainTermArtsIn audio recording, a control that allows more or less of the source sound into the channel being recorded.
game theoryMath
Gates' LawTheoryPhilosophyThe idea that software development speed halves every 18 months, negating the acceleratory effects of Moore's Law and preventing computing from leaping greatly forward.
Gaussian distributionTermStatisticsthe Normal distribution
GDP (Gross Domestic Product)ModelEconomicsThe sum of all public and private goods produced within a given period; a measure of a country's economic health.
general relativityTheoryScience
general willModelGovernment
generalists and specialistsPhilosophy
genetic algorithmsScienceAn approach to AI based on evolutionary models, in which multiple candidate solutions to a problem are generated randomly by mutation and recombination, then iterated over thousands of generations through fitness functions to weed out the best of each generation.
germ theory of diseaseScientific Law
Gettier problemPhilosophy
gilding the lillyMetaphorArtsSpeaking so floridly of a subject that one actually tarnishes its natural beauty.
GOFAITechnology"Good Old-Fashioned Artificial Intelligence" — reference to the style and general algorithmic approach of early artificial intelligence work, which fell out of popularity over the decades in favor of more organic neural net and evolutionary approaches.
Golden calf
Golden MeanAncient WisdomPhilosophyAristotelian theory of an ideal balance point between the many extremes we face in life; he advocated harmony between the various spheres of life for an experience of happiness.
Golden RuleAncient WisdomCulture"Do unto others, as you would have them do unto you" is the essence of this ancient wisdom, often used as a shorthand version of Jesus's core teaching.
Goldilocks ZoneModel
gold standardLegal precedentEconomics
gravityScientific LawScience
gravity wavesPhysics
habeas corpusLegal precedentLaw
habitusTheorySocial psychology
Hanlon's RazorModelPhilosophynever attribute to malice what is adequately described by carelessness
hard determinismPhilosophy
harmonicsArts
hearts and mindsPolitics
hedge fundsEconomics
hedonismPhilosophyPhilosophy
Heisenberg Uncertainty PrincipleTheoryScience
hexadecimal numbersTermMathbase 6
heuristicsModelPsychologyMental shortcuts that we do as a matter of routine, especially when we're stressed or under other types of cognitive constraints.
hormesisScienceWhen a small dose of a toxic substance is actually beneficial to the living thing that ingests it
hydraMetaphor
iatrogenicsHealthharm done by the healer
ice core datingMethodScience
id, ego, superegoModelPsychologyFreud's psychological model of the conscious and unconscious mind.
implicit costEconomics
Imposter SyndromeModelPsychologyA psychological pattern in which one doubts their own accomplishments and has a generalized fear of being exposed as a fraud.
index number; indexingStatistics
inferior goodsEconomics
inflationModelEconomics
inflection pointMathThe point of a curve at which a change in the direction of the curve occurs.
intellectual propertyLegal precedentEconomicsIP
interestModelEconomics
interest rateEconomics
internal rate of return (IRR)Economics
Internet of Things (IoT)TermTechnology
intersectionMath
interventionismSocial psychology
Invisible HandTheoryEconomics
IP addressesTermTechnology
iron law of oligarchyTheoryPoliticsPolitical theory positing that no matter how democratic a group may start out, over time it will develop into a bureaucracy ruled by a small handful.
It from BitTheoryPhysicsJohn Wheeler's theory about the fundamental informational nature of the universe
Keynesian economicsTheoryEconomics
Keynesian PutModelEconomics
keystone
Kronos EffectModelEconomicsthe tendency of a successful corporation to seek to acquire and/or drive its upstart competitors out of business
Laffer CurveTheoryEconomics
law of excluded middle
Law of Large NumbersScientific LawMathAs the number of coin tosses approaches infinity, the number of heads encountered will converge on 0.5; helpful in calculations of probability.
least-barricaded gateMetaphorPoliticsTrotsky's metaphor of how social revolutions can take hold more easily in already weakened societies.
lecturing birds how to flyMetaphorMetaphor
length contractionModelPhysics
less is morePhilosophyMetaphor
L'etat c'est moiPhilosophyPolitics"I am the state“
leverageEconomics
lifeboat ethicsPhilosophyPhilosophy
light-weight processComputer Science
limit of a functionTermMath if the graph of an equation seems to approach a numerical value but never quite reaches it, we say that number is the limit of the function (approaching from the negative or positive direction; sometimes directionality is important)
limiting factorModelSystems Theory
linear regressionMethodMath
liquidityEconomics
local minModelSystems Theoryidea that to grow out of a stasis or plateau, you likely have to endure a period of "setback" that is a lower dip or minimum value from where you are now, but is what's required to get over the activation energy to reach the next level
locus of control
logarithmMath
logical fallaciesPhilosophy
long tailModelMathIn a power law distribution (of population, ages, items, etc.), the region of the graph that tapers off quickly after the initial segment of high data points
loss aversionExperimental findingPsychology
Lost EinsteinsTheoryCulturehttp://doctorparadox.net/models/lost-einsteins/
loyalists and mercenariesMetaphorSystems Theory
maker's time and manager's timeModelSystems Theory
M1Economics
M2Economics
mandalaAncient WisdomReligionIntrocate and elaborate patterns created with colored sand by Buddhist monks, who blow away their creations at the end to signify their celebration of impermanence.
ManichaeanAncient WisdomPhilosophya narrowly-defined dualistic worldview of good against evil
man on horsebackMetaphorSynonym for a demagogue. Comes from French general Georges Ernest Boulanger, and refers to a military leader who presents himself as the savior of the country during a crisis and either assumes or threatens to assume dictatorial powers.
map is not the territoryMetaphorMetaphorA phrase reminding us that our mental picture of a thing is not the same as the actual thing itself
margin of errorMathStatisticsHow much uncertainty there is in the results; a percentage the estimate may be bounded by.
marginal benefitEconomics
marginal costEconomics
marginal returnsEconomics
marginal utilityEconomics
market shareEconomics
Markov chainTermMath
Maslow's Hierarchy of needsModelPsychology
meanMathStatisticsThe average value of the numbers in a data set; take the sum of all values and divide by the total number of values in the set.
medianMathStatisticsLike mean, another way to describe the central tendency of a data set.
Median Voter TheoremTheoryPolitics
megalopsychonPhilosophyPhilosophyConcept in Aristotelian ethics of living with grandeur and taking risks with dignity; being nonsmall
mens reaLegal precedentLaw"guilty mind" — establishing the intent of a perp can help to establish criminal liability
mercantilismTheoryEconomics
meritocracyModelSystems Theory
metaphysicsPhilosophyPhilosophy
mirror neuronsExperimental findingScience
modeMathStatisticsThe frequency with which each data point exists in the set.
monopolyModelEconomicsMarket condition in which there exists only one seller of a resource.
monopsonyModelEconomicsMarket condition in which there exists only one buyer of a resource.
Moore's LawTheoryTechnologyNamed after Gordon Moore, the model predicts the doubling of transistors on a circuit of equivalent size every 18 months to 2 years. This has many consequences for both technology and economics, including the predictable drop in price of generating the same amount of computing power each period.
moral hazardModelEconomicswhen one party takes on additional risk, knowing that other parties will bear the brunt of the risk in event of a loss
Moravec's Paradox
MVP (minimum viable product)TermEconomics
naive cynicismPsychologyState of mind in which people believe others to have more egocentric bias than is warranted or is actually the case.
Narcissus & EchoAncient WisdomMetaphor
Nash EquilibriumTheoryMath
nasty, brutish, and shortTheoryPhilosophy
natural lawsScience
natural selectionScientific LawScience
necessity is the mother of inventionCommon WisdomCulture
negative externalitiesModelEconomics
negative interest ratesMethodEconomics
neomaniaExperimental findingSocial psychologylove of the modern for its own sake
neural netTermTechnology
net present value (NPV)ModelEconomics
neuroplasticityExperimental findingScience
Newton's first lawScientific LawScienceAn object in motion will tend to stay in motion, unless acted upon by a force.
Newton's second lawScientific LawScienceF = ma, or an object of mass m feeling a force F will tend to accelerate by an amount a.
Newton's third lawScientific LawScienceWhen 2 objects interact, they each apply force on the other in equal amounts magnitude, in the opposite direction.
nodesTermMath
noosphereThought ExperimentData scienceSphere of human thought — all interacting minds on earth. An early 1900s concept from Teilhard de Chardin
nominal figuresEconomics
nonlinearityMath
Normal distributionScientific LawMath
normal goodsEconomics
normalized weighted averageStatistics
normative and descriptivePhilosophy
noumenaPhilosophy
novus ordo seclorumSymbolGovernmentA new order for the ages; Latin phrase seen on the American dollar bill.
null hypothesisMethodScience
observer effectExperimental findingScience
Occam's RazorTheoryPhilosophyA philosophical rule of thumb that favors the simplest explanation. Also known as the "law of parsimony."
octal numbersMathComputer Sciencebase 8
oligopolyTermEconomics
omphalosPolitics
opportunity costModelEconomicsWhat you miss out on by using a resource in a certain way -- what you would have done with the resource otherwise; what alternative use you would have put it to.
optionsEconomics
orders of magnitudeScientific LawMath
ordinally ranked dataStatistics
organizational debtEconomics
oscillationsScience
out-group biasExperimental findingSocial psychology
outlierModelMathData points that fall well outside of the normal distribution or expected distribution of a data set.
paradoxModelLogicA self-contradicting statement or logically impossible event.
paragonModelCultureA standard against which something can be judged — an exemplar example of a thing
Pareto PrincipleExperimental findingEconomicsAnother term for the 80/20 Rule
path dependentMathComputer Science
Pavlovian responseExperimental findingScience
pax RomanaLegal precedentHistory
pearls before swineMetaphorCultureThe sense of wasting one's efforts for people who don't really appreciate them.
P/E RatioMethodEconomicsPrice to earnings ratio: standard measure of relative stock performance
permutationsMathComputer Science
Peter PrincipleTheorySystems TheoryTheory that individuals within corporate and other organizational hierarchies will rise to the highest level at which they become incompetent in their job duties.
phase shiftScientific LawScienceThe ability of matter to change phases, most famously water from liquid to ice to vapor and back again.
philosopher kingsAncient Wisdom
Philosopher's StoneUnsolved Mystery
phonemesExperimental finding
plant a seedMetaphor
Platonic formsModel
PlatonicityPhilosophyadherence to crisp abstract theory & forms that blind us to the mess of actual reality
Plato's CaveModelPhilosophyAllegory in Plato's Republic about a cave dweller whose only picture of reality is the shadow on the cave wall thrown by the fire.
pluralismGovernment
point of no returnMetaphorCulture
pollingMethodStatistics
Pollyanna PrincipleModelPsychologyThe tendency for people to remember pleasant events more accurately than unpleasant ones.
populismGovernment
positronScientific LawPhysicsan antimatter electron
Potemkin Village EffectModelSystems TheoryTendency of systems to create the appearance of functioning normally — to appease the operators who wish it so — even when they are not.
precisionMath
present valueEconomicsThe expected current value of an income stream.
price ceilingEconomics
price floorEconomics
prima facie
principle of indifferenceStatisticsIn probability, when there is no basis to choose some outcomes as more likely than others, they are given equal weight (1/2 chance of a particular side of a coin, 1/52 to get a particular card from a deck, etc.).
Prisoner's DilemmaThought ExperimentMath
private equity (PE)MethodEconomics
probabilityMath
probability distributionMathStatistics
Procrustean bedAncient WisdomPhilosophySynonymous with ruthlessly enforcing conformity, the phrase comes from a Greek tale of extreme "form fitting" on the part of Poseidon's son Procrustes, a robber who is said to have attacked victims by cutting off men's legs or stretching them on racks accordingly to fit an iron bed size.
profitLegal precedentEconomics
propagandaMethodSocial psychologyoriginally, a way to "propagate" any idea; used by both sides in WWI, it thereafter took on a sinister connotation when American & British citizens felt hoodwinked by their govt's use of it
proper framePhysicsin physics, the frame of reference that accelerates with you and determines your age
proportionalityModelMath
prospect theoryPsychology
proximate causeLogic
proxy warTermPolitics
pseudoscienceMethodCulture
PTSDPsychology
punctuated equilibriumModelScience
putting legs on a snakeMetaphor
Pygmalian EffectSocial psychology
Pyrrhic victoryMetaphorHistoryA victory in which the costs of winning far outweigh the rewards.
quantum computingMethodComputer Science
quantum entanglementTheoryPhysics
quantum physicsScience
qubitScience
quid pro quoLegal precedentLaw
quota
r > qModelEconomicsThomas Piketty's elegant demonstration of the rise of inequality
random walksMath
rangeStatisticsIn a set of numbers, the difference between the highest value and the lowest value in the data set.
rara avisAncient WisdomCulture"Rare bird" in Latin; similar to an outlier. Someone who stands out.
rate of returnEconomics
ReagonomicsEconomics
realismPhilosophy
reality testingModelPsychologyDiscerning the difference between inner and outer, and seeing events as they really are, and not just what we want them to be.
received wisdomAncient WisdomReligion
recursionMethodMath
red shiftScientific LawScience
reductio ad absurdoAncient WisdomPhilosophyCollapsing things too far, in a way that destroys real significance.
reductio ad finemAncient WisdomPhilosophyTo analyze to the end — break the concept down into its conponent parts.
redundancyMethodSystems TheoryHaving multiple pathways within a system to accomplish the same task or achieve the same objective.
reference framePhysicsA frame that does not accelerate; also known as a Lorentz frame.
regnat populus
regression analysisMethodStatistics
reincarnationUnsolved MysteryReligion
reinforcing loopSystems theory
relativityTheoryPhysicsEinstein's central insight that the experience or perceived passage of time depends greatly on the conditions of the observer, particularly with respect to velocity and gravity
resilienceModelSystems TheoryAbility to bounce back into shape after having been pressed or stretched; elasticity. The ability to recover quickly.
respice finemAncient WisdomPhilosophy"Consider that you will die" — i.e. live life as you would in order to be proud of it by the time it's over.
res publicaAncient WisdomGovernmentpertaining to the state
retrodiction
revenueEconomics
ripple effectExperimental findingScience
riskLegal precedentEconomics
risk-weighted assets (RWAs)Economics
root causePhilosophy
Rosetta StoneExperimental findingHistoryMetaphorically, a key to unlocking the secrets of a given thing.
roundingMethodMath
rounding errorMath
rule of lawLegal precedentPhilosophy
run on the bank
samplingMethodStatistics
samsaraReligion
scarcityEconomics
Schelling's Tipping Model
Schrödinger's CatTheoryPhysics
search intentTermMedia
second-order thinking
selection biasExperimental findingPsychology
self-governancePhilosophy
set theoryMath
ship of TheseusAncient WisdomMetaphor
SIFIEconomicssystemically important financial institution; post-2008 financial crisis designation for banks deemed "too big to fail" (currently, firms holding more than $50b in assets)
sigmaStatisticsstandard deviation, named for the Greek letter denoting the statistical term
signal pathPhysics
significant figuresMathaka "sig figs"
simulationPhilosophy
sineMathPhysics
sine waveMathPhysics
Single point of failure (SPoF)TermComputer ScienceA part of a system that, when it fails, brings down the entire rest of the system or stops it from working properly
singularityTheoryScienceA black hole.
SIR modelModelSciencecontagious disease modelling based on possible patient states (susceptible, infected, recovered)
site navigationMethodComputer Science
six degrees of separationExperimental findingPsychology
six sigmaMethodStrategyMotorola-originated concept of ensuring quality control to a very fine point, by ensuring that parts or other production outputs are manufactured to be within a certain quality range up to 6 times the standard deviation.
situational preparednessMethodStrategy
skewMathStatistics
skin in the gameAncient WisdomEconomicsWhen someone has a stake in the outcome, they are more likely to keep their word in assist its fruition.
slope of a lineMathStatistics
social contractLegal precedentPhilosophyProfoundly impactful document in political philosophy from Jean Jacques Rousseau in 18th c. France, refuting the rights of monarchs to rule the people
Socratic methodMethodPhilosophyTechnique of instruction or conversation where the teacher or moderator proceeds by asking the student or pupil a serious of questions, enticing her or him to come up with their own answers to the issues related to the subject at hand.
solipsism
sortingMath
special relativityScientific LawScience
speech act theoryTheoryPhilosophyBritish philosopher J.L.Austin's concept that all uses of speech carry a performative aspect.
speed of light (c)Scientific LawScienceapprox. 300 million meters per second
spreadStatistics
squaring the circleUnsolved MysteryA notorious philosophical problem first posed by Plato, the phrase has come to be used to allude to the grandiosity and infeasibility of someone's plans.
standard deviationMathStatistics
standing wavesTerm
stare decisisLegal precedentLaw"It has been decided" — terminology used by a judge or court to indicate that the matter before them has already been decided by a previous ruling.
state of natureThought ExperimentPhilosophy
status quoTermCultureThe way things currently are.
stochastic terrorismTermSocial psychology
stocks and flowsModelSystems Theory
StoicismAncient WisdomPhilosophy
Streisand EffectMetaphorSocial psychologyWhen the act of attempting to hide information only makes it more prominently spread, especially via the Internet.
strict father moralityGeorge Lakoff's terminology to describe the conservative worldview.
strict liabilityLawCrimes which have no mens rea requirement, such as rear-ending of another vehicle (where it is always the rear-enders' fault no matter what the circumstances.
subsidyEconomics
success to the successfulSystems theoryA reinforcing loop within complex system — especially economies — wherein the spoils of victory include the means to alter the rules of the game further in the favor of the previous winners.
summum malumAncient WisdomPoliticsultimate evil — some posit cruelty as this ultimate evil
supply and demandModelEconomics
supply chainTermEconomics
sword of DamoclesAncient WisdomMetaphor
symmetric encryptionTerm
tabula rasaAncient WisdomMetaphorBlank slate
tachyonExperimental findingSciencehypothetical particle that travels faster than the speed of light
tangentMethodMath
tariffLegal precedentEconomics
tempus edax rerumAncient WisdomArts"Time devours everything." — Ovid
tempus fugitAncient WisdomTime flies
tempus neminem manetAncient Wisdomtime waits for no man
Third StoryThought ExperimentPhilosophythe story an impartial third-party observer might tell; a version of events any unbiased person could agree on
Thucydides Trap
tilting at windmillsMetaphorArtsA reference to the novel Don Quixote, denoting the ongoing pursuit of useless attacks against an implacable enemy. Ineffectual activity undertaken strenuously and loudly.
time dilationThought ExperimentScience
time series dataMethodStatisticsA collection of measurements taken over time that create a graph when plotted.
time value of moneyTheoryEconomics
tipping pointModelSystems Theory
Tit-for-TatMethodStrategy
too many cooks in the kitchenMetaphorCultureA metaphor connoting that too many people are currently involved in the decision-making process.
touchstoneMetaphorMyth/MetaphorA black stone once used to judge the purity of gold or silver — now signifying a standard against which something should be judged.
Tower of BabelMetaphorReligionA tale in the book of Genesis in the Bible that purports to explain the origins of different languages, via narrative about God confounding the speech of humans trying to build a tower to reach Him.
trade-offsModelEconomics
tragedy of the commonsExperimental findingEconomicsAn economic term for a situation in which unfettered access to a resource can lead to resource depletion through uncoordinated behavior -- a classic example is overfishing. A commonly-pooled (aka public) resource is overconsumed, but underinvested in.
transitivityTermMath
trickle down economicsMethodEconomicsRight-wing economics, also known as Reaganomics, supply side economics, fiscal conservatism, tax cut policy, and austerity.
trolly problemThought ExperimentPhilosophy
turtles all the way downTheoryPhilosophy
twin paradoxThought ExperimentScience
tyranny of choiceExperimental findingSystems TheoryThe paradoxical effect that having too many options to choose from actually decreases the likelihoof of being able to reach a decision at all.
UnicodeTermComputers
unionTermMathIn set theory, a union of sets is a set which consists of all the members of all the sets.
universal lawPhilosophyPhilosophy
usuryTermEconomicsThe act of charging interest on borrowed money; for thousands of years there have been religous proscriptions against lending money with interest in various societies.
utilityTheoryPhilosophy
varianceMathStatisticsThe amount of variation within a data set.
Veil of IgnoranceModelPhilosophyPhilosopher John Rawls' model for making better ethical decisions, in which the decider chooses a course of action based on the predicate that s/he will not know which of the groups or persons affected by the decision they personally would be. This method creates natural incentives to find the fairest outcome for all groups, since the decider doesn't know which group they will "end up in" on the other side of the decision.
Venn DiagramModelMath
via negativaMethodPhilosophyAn indirect description of a thing by describing what that thing is not.
Volcker ruleLegal precedentEconomicsFinancial rule preventing consumer lending banks from speculative trading in securities for their own profit.
vulnerabilityExperimental findingPsychology
wave functionScientific LawScience
wave-particle dualityExperimental findingScience
wheel of lifeSymbolReligion
when life gives you lemonsMetaphorPhilosophyYou try to make lemonade! Another way of saying, "let's try and make the best of this unfortunate situation."
winner-take-all marketEconomics
wisdom of crowdsModelSocial psychologyDerived from the Diversity Prediction Theorem: the average prediction of a group of individuals will be more accurate than the prediction of one average member.
wolves and sheepMetaphorPhilosophy
wormholeTheoryPhysicsA sort of tunnel formed on the surface of a black hole that may connect two different regions of space
worst case scenarioModelSystems Theory
zero sum gameModelMath
z scoreTermStatistics
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German biologist Jakob von Uexküll coined the term umwelt to refer to the phenomenon in which animals in the exact same environment pick up different signals and attend to different slices of reality. For example, dogs have acute senses of smell while bats have fine-tuned perception of the compression of air waves for echolocation. Bees can detect ultraviolet signals, while snakes can see infrared — but humans can see neither with our naked eyes.

a bee seeing in UV, by Midjourney

The term umgebung refers to the larger, actual reality — beyond what our individual umwelts clue us into. The delta between our provincial little umwelts and the gigantic scale of the umgebung can be enormous — but even more dangerously, few people are even aware it exists.

The umwelt is humbling

If we had more appreciation for the humble reality of the umwelt, we could potentially curb the rampant rise of supremacy and collective narcissism swirling around in the modern world. We should cultivate gratitude and awe for our constraints; for the limited and precious abilities we have and take for granted sometimes in our relentless question for ambition and achievement. It behooves us to understand intimately the limits of our knowledge, and work together to cooperate on building resilient systems and problem-solving methodologies.

The universe is not totalitarian; the universe is multi-modal. None of us can see the big picture by ourselves — we need to take the perspectives of many others to composite together a reasonably accurate picture of the way things work. We need to use model thinking in our cognition, and make liberal use of our own individual toolkit of core mental models and concepts in understanding the world and making decisions.

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I’ve been reading Erich Fromm’s Escape from Freedom and it’s synthesizing a few things together for me in new ways — prime among them the realization that collective narcissism is the shared root ideology of both Christian nationalism and Nazism. First off, I’d recommend it:

Next, I’d like to thank it for reminding me about the insidious dangers of Calvinism and the Protestant Work Ethic, as described in sociologist Max Weber‘s most cited work in the history of the field. Beyond the problematic authoritarianism of John Calvin as a person himself, the ideology of predestination coupled with a paradoxical obsessive compulsion with working yourself ragged is a noxious brew that fed the Protestant extrusion of American capitalism as well as the murderous violence of its Manifest Destiny.

Reformation Ideologies

Calvin — like Luther before him — was reacting to the social and economic upheavals of his day which, during the Reformation, were all about the middle class emerging from the security and certainty of feudalism into a far more dynamic world of competition, isolation, and aloneness. It held promise but also peril — hope along with, inescapably, fear.

During the Middle Ages, humankind had retreated from the aspirational virtuousness of the Greek and Roman civilizations and descended into almost 1000 years of darkness, as compared to the dazzling intellectual brilliance of the millennium before it. Those who would prefer cultish cowering in self-righteous ignorance over the humility of fallible science and critical thinking managed to topple a glittering civilization and scatter it to the wolves. It was a return to cruel and arbitrary happenstance, a horrifying Hobbesian world of pestilence and pathology.

Continue reading Collective narcissism is a bad solution to modern anxiety
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Motivated reasoning is a common daily phenomenon for all of us, assuming we’re human and/or interact with other humans. It’s a cognitive science term that refers to a type of emotional bias in which we have a tendency to prefer decisions or justifications based on their personal desirability vs. an unbiased examination of the facts.

Thinking and feeling aren’t anywhere near as “separate” in the brain as is commonly believed — they are very intertwined, and it’s also incredibly difficult for us to understand or detect from moment to moment which parts of our stream of consciousness are “thinking” and which are “feeling.”

What’s worse, we have other biases that exacerbate the motivated reasoning bias — like the “Lake Wobegon Effect” wherein we tend to overestimate our own abilities vs. others. So, we’re overconfident — at the same that we are less rational than we think we are. That can be a volatile combination — especially when found in individuals who hold a lot of power, and make decisions that affect people’s lives.

For we know not what we do

It can be infuriating to deal with people who are using motivated reasoning to make decisions instead of critical thinking: they tend to work backwards from the conclusion they wish to reach, and ignore evidence that contradicts their pre-existing beliefs. The way they deal with the cognitive dissonance of conflicting information is simply to toss the new information out, instead of evaluating it. Generally, though, they are unaware that their brain is in the habit of making that easier choice, and tend to get angry when this is pointed out.

Examples of motivated reasoning:

  • Bigotry and prejudice
  • Belief that you can “reduce covid cases” by not testing
  • Belief that you can get Republicans elected by refusing to count Democratic votes either outright or via procedural means

Related concepts:

  • Emperor’s New Clothes
  • Potemkin Village
  • tautology
  • foregone conclusion
  • Catch-22
  • ouroborous
  • self-fulfilling prophecy
  • revealed wisdom
  • divine right of rule
  • teleological thinking
  • self-interest bias
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Every Thing is really (at least) Two Things: the Thing, and the opposite reaction to The Thing.

This is a) economic thinking b) Newton’s Law.

Moreover we’re fascinated by opposites, polar extremes, paradoxes.

The mirror wears two faces,

and we are merely playing.

Political Diptychs

Liberal values vs. Authoritarian worldview
DIPTYCH: Equality vs. Supremacy

The Artist vs. The Fundamentalist

https://doctorparadox.net/essays/the-artist-vs-the-fundamentalist/

Goldilocks Zone vs. Unbounded Growth

https://doctorparadox.net/essays/goldilocks-zone-vs-unbounded-growth/

Surviving vs. Flourishing
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Elder wisdom, Thinkers, and Creators Since Antiquity

Some say there’s nothing new under the sun. Maybe we don’t need to go that far — but we should definitely appreciate the voluminous contributions of the ancient thinkers and great philosophers of antiquity, who figured out a dizzying array of complicated concepts long before the modern era.

We have much to learn from our ancestral teachers. Here’s a place to start — which shall grow over time as the knowledge is passed down yet again, age unto age. Things that stand the test of time are valuable, no matter what the currency of the day.

The Great Philosophers

NameKnown forBornDiedWhere livedInfluenced
St. Thomas AquinasSumma Theologiae12251274Italy
AnaxagorasEarly Pre-Socratic Greek philosopher who moved forward ideas about the nature of existencec. 500 BCc. 428 BCGreece, PersiaDiogenes, Plutarch
Hannah ArendtA politically progressive Jewish philosopher, Arendt fled the Nazi regime for America, where she wrote the foundational text on the political psychology of authoritarianism, "The Origins of Totalitarianism" (1951)19061975Germany, America
AristotleStudent of Plato and founder of the Lyceum, he is widely known for his Socratic Method of questioning as a basis for philosophical discussion384 BC322 BCGreeceThe Enlightenment, St. Thomas Aquinas, Dante
Marcus AureliusRoman emperor and Stoic philosopher who advocated for cultivating an ethos of impermanence and doing one's duty.121180Roman Empire
AvicennaPersian polymath, father of early medicine, and a key figure during the Islamic Golden Age9801037Persia
Francis Bacondeclaring that human intellect and reason are means of discovering the truth: "Knowledge is power“15611626England
Roger BaconMost celebrated European scientist of the Middle Ages.12201292England
Pierre BourdieuThe French sociologist's work focuses on how upper social classes preserve their social privileges through generations despite the persistent myth of social mobility in post-industrial liberal societies19302002France
Jeremy Benthamfather of Utilitarianism17481832England
Daniel BernoulliSwiss mathematician widely credited for pioneering the field of statistics17001782Switzerland
Jacob Bernoulli16551705Switzerland
Jean BoudinFrench political philosopher known for his theory of sovereignty15301596France
Louis BrailleFrench educator and inventor of the Braille system of reading and writing for the blind18091852France
BrunelleschiItalian architect, sculptor, and designer13771446Italy
Joseph CampbellLiterature professor most known for his work in world mythologies, and the widely observed narrative of the archetypal hero19041987White Plains, NYGeorge Lucas and Star Wars
Andrew CarnegieGilded Age tycoon who made a fortune leading the steel industry in the late 19th century, becoming one of the richest Americans in history18351919Scotland, America
CiceroRoman statesman, orator, philosopher, scholar, lawyer, and skeptic who championed a return to republican government during the dictatorship of Julius Caesar.106 BC43 BCRomeJohn Locke, David Hume, Motesquieu, Edmund Burke
Marquis de CondorcetFrench philosopher, mathematician, and early political scientist who played a key role in transforming European society from feudalism to modern secular democracy.17431794FranceThomas Jefferson
ConfuciusConfucianism -- a system of ethics and morals to guide "right" behavior551 BC479 BCChina
Marie CurieChemist and physicist whose work on radioactivity earned her a Nobel Prize -- the first woman ever to win the award.18671934Poland, France
Leonardo da VinciThe Italian polymath, painter, engineer, inventor, scientist et al was a giant of the Renaissance. He is often credited as being the greatest painter in th history of art.14521519Italy
Charles DarwinEnglish naturalist most famous for the knowledge of evolution18091882England
Democritusbasic theory of the atom: a fundamental building block unit of all things that itself is not divisible (although later we would discover even smaller particles, the atom is still essentially the most basic building block)460 BC371 BCGreece
René Descartescogito ergo sum: I think therefore I am15961650France
Alexis de TocquevilleFrench diplomat, philosopher, historian, and aristocrat best known for his two volume Democracy in America (1835 & 1840), now considered one of the earliest works of sociology.18051859France
DiogenesThe most famous of the Cynics, a school of philosophy founded in Athens c. 400 BC, advocating the pursuit of happiness through avoiding the unnecessary temptations of material goods412 BC323 BCGreeceZeno
Emilé Durkheimanomie — concept of lack of a shared moral order. Normlessness.18581917France
Albert EinsteinKnown for his theories of relativity and quantum mechanics, Einstein is widely agreed to be one of the greatest physicist of all time.18791955Germany, America
Ralph Waldo EmersonWriter, philosopher, poet, and abolitionist who led the transcendentalist movement of the mid-19th century and became a key figure in the American romantic movement18031882AmericaHenry David Thoreau
EmpedoclesGreek philosopher best known for his cosmogonic theory of the four classical elements.494 BC434 BCGreece
EpicurusGreek philosopher and founder of the highly influential school of philosophy bearing his name, Epicureanism341 BC270 BCGreeceJohn Locke, Thomas Jefferson, Jeremy Bentham, Karl Marx
ErasmusA Dutch philosopher and Catholic theologian, Erasmus is acknowledged as one of the greatest minds of the northern Renaissance14661536Netherlands
EuclidGreek mathematician and founder of geometryc. 325 BCc. 270 BCAlexandria, Egypt
Michael FaradayHugely influential English scientist who made numerous contributions to the study of electromagnetism and electrochemistry17911867England
Enrico FermiItalian physicist who emigrated to America with his Jewish wife in 1938 and worked on the Manhattan Project, creating the world's first nuclear reactor and becoming dubbed the "architect of the atomic bomb."19011954Italy, America
Michel FoucaultWidely influential philosopher, literary critic, historian, and activist best known for his theories on the relationship between power and knowledge.19261984France
Sigmund FreudAustrian neurologist who founded psychoanalysis18561939Austria, UK
John Kenneth GalbraithConcept of countervailing power — that collective worker power is needed to balance against growing corporatism in the economy19082006Canada, America
GalenGreek physician, surgeon, and philosopher credited with developing the fields of anatomy, physiology, pathology, pharmacology, neurology, and logic130200Greece, Rome
GalileoThe Italian polymath is considered the father of modern science, making groundbreaking contributions to the fields of modern physics, observational astronomy, and the scientific method itself.15641642Italy
Siddharta GautamaThe Buddha; achieving enlightenment under the Bodhi tree in India563 BC483 BCIndia
GhibertiSculptor most famous for his creation of the bronze doors of the Florence Baptistry13781455Italy
Johann GutenbergInvented the printing press, democratizing the dissemination of information for the first time.13941468Germany
Jürgen HabermasGerman philosopher and member of the Frankfurt School, his work addresses public opinion and the public sphere through the lens of critical theory1929Germany
Friedrich HegelOne of the most important figures in German idealism and a founding figure in Western philosophy17701831Germany
Martin HeidiggerGerman philosopher and member of the Nazi Party18891976Germany
Heraclitusposited that change or flow is the most basic character of nature; that the world is characterized by opposites; and that God or "logos" is the essence of nature's constant flux and source of all things535 BC475 BCGreece
Herodotusfirst historian; first journalist; first foreign correspondent480 BC425 BCGreece
HippocratesGreek physician who is considered the Father of Medicine and known for the Hippocratic oath still in use todayc. 460 BCc. 370 BCGreece
Thomas HobbesEnglish philosopher and founder of modern political philosophy15881679England
HomerAncient Greek poet and author of the epic poems the Iliad and the Odysseyc. 750 BCGreece
David HumeKey Enlightenment philosopher who championed empiricism, skepticism, and naturalism17111776Scotland
William JamesThe father of American psychology18421910America
Thomas JeffersonFounding Father and third president of the U.S., Jefferson wrote the Declaration of Independence17431826America
Carl JungFounder of analytical psychology18751961Switzerland
Immanuel KantA central Enlightenment thinker who made contributions to epistemology, metaphysics, ethics, and aesthetics among other fields.17241804Prussia
John Maynard KeynesEnglish economist whose ideas profoundly changed the field of macroeconomics and economic policy, now known as Keynesian economics18831946England
Søren KierkegaardDanish poet and polymath regarded as the first existentialist philosopher18131855Denmark
Thomas KuhnPhilosopher of science known for his theory of scientific paradigms and paradigm shifts19221996America
Lao Tzuthe Dao de Ching and philosophy of Daoism6th c. BC6th c. BCChina
LamarkA botanist, naturalist, and taxonomist, the French academic was an early proponent of the idea of evolution 17441829France
Gottfried LiebnizThe German polymath is a key figure in the history of philosophy and mathematics both16461716Prussia
Vladimir LeninFomented the Russian Revolution of 1917 that overthrew the tsarist regime18701924RussiaJoseph Stalin
Carolus LinnaeusThe father of modern taxonomy and inventor of binomial nomenclature for the modern system of naming organisms17071778Sweden
John Lockephilosophy of liberty and natural rights16321704England
Martin LutherKicked off the Protestant Reformation when he broke with the Catholic Church over the practice of indulgences14831546Germany
James MadisonFounding Father and fourth president of the U.S., Madison is known as the father of the Constitution and the author of the Bill of Rights, as well as a co-author of the Federalist Papers with Alexander Hamilton and John Jay 17511836America
Karl MarxHis political theories were so revolutionary he lived in exile much of his life, with his works The Communist Manifesto and Das Kapital exerting enormous influence on subsequent intellectual thought and world history18181883Germany, England
John Stuart MillA key thinker in the pantheon of classical liberalism, Mill contributed to political theory, political economy, and social theory among others18061873England
MoziAn ethical philosophy advocating the caring for everyone equally470 BC391 BCChinaLegalism
MohammadArab social and political leader who founded the religion of Islam570632Mecca
Isaac NewtonOne of the greatest scientists of all time, Newton discovered gravity and the laws of motion among much else16421727England
Friedrich NietzscheKey figure in modern intellectual history18441900Germany
Alfred NobelInventor and philanthropist who gave his fortune to establish the Nobel Prize18331896Sweden
Georgia O'KeeffePainter known as the Mother of American modernism18871986America
Thomas PainePolitical theorist and revolutionary whose pamphlets Common Sense and The American Crisis helped persuade the colonists to declare independence from Great Britain17371809Britain; America
Parmenidesearly Rationalist; believed our perceptions are an illusion shielding us from true reality, which is only discernable via human reason515 BC445 BCGreecePlato
Louis PasteurA French chemist and microbiologist who discovered vaccination and pasteurization, Pasteur is considered the father of bacteriology and the father of microbiology18221895France
PetrarchPetrarch's rediscovery of Cicero's letters helped spark the Italian Renaissance in the 14th century13041374Italy
Philo of AlexandriaPhilosopher and theologist who entwined Jewish exegesis and Stoic philosophyc. 20 BCc. 50 ADAlexandria, Egypt
PlatoPlatonic Forms427 BC347 BCGreeceAristotle
Pliny the ElderAuthor, naturalist, and navy commander who wrote encyclopedic works on natural philosophy2379Rome
Marco PoloThe first European to create a detailed history of his voyage to Asia via the Silk Road, including China, Japan, Persia, India, Sri Lanka, and Vietnam.12541324Italy
Neil PostmanThe professor and cultural critic warned against the ill effects of tchnology and is best known for his book Amusing Ourselves to Death (1985)19312003America
ProtagorasFather of relativism; coined the phrase "man is the measure of all things"490 BC420 BCGreece
PythagorasThe Pythagorean theorem570 BC495 BCGreeceParmenides
François RabelaisA writer, physician, Greek scholar, Renaissance thinker, Rabelais is infamous for his satirical and bawdy humor14831553France
John RawlsMoral and political philosopher known for the thought experiment known as the "veil of ignorance," in which participants make decisions about the society they will live in without knowing a priori which class or social position they themselves would occupy. 19212002American
Jean-Jacques RousseauPolitical philosopher whose concept of the Social Contract inspired the French and American Revolutions, and underpins all modern liberal democracies17121778FranceThe Enlightenment, French Revolution
Jean-Paul SartreA key thinker in the philosophy of existentialism19051980France
Arthur SchopenhauerThe German philosopher was one of the first in the west to embrace Indian philosophy, including asceticism, self-denial, and the concept of worldly illusion. He influenced many other important thinkers and creators of the 19th and 20th centuries17881860PolandLudwig Wittgenstein, Albert Einstein, Sigmund Freud, Carl Jung, Leo Tolstoy, Herman Melville, Thomas Mann, Hermann Hesse, Jorge Luis Borges, Samuel Beckett, Richard Wagner, Arnold Schoenberg, Gustav Mahler
Joseph SchumpeterAn Austrian emigree to the US, Schumpeter taught at Harvard and popularized the economic term "creative destruction"18831950Hungary, United States
SenecaRhetoric teacher and Stoic philosopher55 BC37 ADRoman Empire
Adam SmithThis Scottish philosopher was a pioneer of political economy, and is widely regarded as the father of economics and the father of capitalism.17231790ScotlandDavid Hume
SocratesWidely considered a founder of philosophy; the dialectic method, among much else469 BC399 BCGreecePlato
SpinozaAn early Enlightenment thinker inspired by Descartes to go on to lead the Dutch Golden Age16321677The Netherlands
Nicholas Nassim TalebThe author, mathematical statistician, and former options trader has written several influential books on probability, uncertainty, and randomness.1960Lebanon, America
ThalesPosited water as being the basic material of the cosmos624 BC546 BCMiletus, Greece
TheocritusCreator of ancient Greek pastoral poetryc. 300 BCc. 260 BCGreece
ThucydidesAthenian historian and general who wrote the History of the Peloponnesian War about the conflict between Sparta and Athens460 BC400 BCGreece
Edward TufteProfessor of computer science at Yale and a pioneer in the field of data visualization1942America
VirgilRegarded as one of Rome's greatest poets, Virgil penned the Aeneid, the national epic of ancient Rome70 BC19 BCRomeDante and the Divine Comedy
VitruviusRoman author, architect, and army engineer known for his significant contributions to architecture and designc. 80 BCc. 15 BCRomeThe Vitruvian Man by Leonardo da Vinci
VoltaireKey figure in the Enlightenment, Voltaire was famous for his criticism of the Catholic Church and advocacy of civil liberties including freedom of speech, freedom of religion, and the separation of church and state16941778FranceJean-Jacques Rousseau
James WatsonCredited with discovering the double helix structure of the DNA molecule1928America
Max WeberGerman historian and political economist widely regarded as one of the most important theorists of modern Western society18641920GermanyCritical theory, the Frankfurt School
Ludwig WittgensteinConsidered one of the greatest modern philosophers, Wittgenstein made significant contributions to the philosophy of mathematics, the philosophy of language, and the philosophy of mind.18891951Austria, England
ZenoFounder of the Stoic school of philosophy in 4th c. BCE Greece and Parmenides's most famous student.c. 495 BCc. 430 BCGreeceSocrates, Plato, Aristotle, Diogenes

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Inequality is the difference in measures of economic well-being between individuals in a group, among groups in a population, or among countries. Also known as economic inequality; inclusive of both income inequality and wealth inequality.

In the United States, the data broadly shows shared economic growth and prosperity in the post-WWII period until the 1970s, when things begin to take a turn: economic growth slowed and income inequality began to increase. For the past 40-50 years, income growth for lower and middle class Americans has stagnated while income growth at the top of the distribution remained growing strongly. Meanwhile as wages have stagnated, costs have risen dramatically, especially in key universal areas like housing, utilities, health care, and education.

Inequality illustrated

Wealth is even more greatly concentrated than income. A recent Oxfam report found that the world’s richest 62 people control as much wealth as the bottom half of the entire population of the planet. In the U.S., the richest 20% of families owned about 89% of the country’s wealth as of 2013 figures.

Those at the top of the wealth distribution who benefit financially from the growing inequality find numerous ways to justify the architecture of the system, and retain much of the power and control over its design. Yet an overwhelming majority of the available historical and present-day data indicates that stark income inequality has wide-ranging negative effects on societies as a whole, from exacerbating social ills to deleterious effects on basic human needs.

Related effects

Further resources

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For all their angry rhetoric and now, overtly political violence, I maintain that it is the right wing that is profoundly insecure, anxious, and in need of soothing. They are panicking at the idea that the world can possibly change without their approval, and deprive them of their stolen superiority — they do not want the party to end for white male dominance of this entire planet.

Right-wing authoritarian adults latch on to symbols and ideologies and demagogues as “surrogates” for the childhood safety blanket they once needed — these are the “adult-acceptable” pablum substitutes.

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The concept of the Goldilocks Zone reminds us that most typically, there is a range of possibilities above and below which would not be viable. This is in contrast to the idea of unbounded growth, in which one or more key performance indicators is expected to continue to grow forever, without bounds. Think: up and to the right.

Commonly used as a metaphor, the Goldilocks Zone has its origins in planetary science. It defines a planet that is within the habitable zone of its star system, meaning not too hot and not too cold — with the ability to sustain liquid water. Without it, life on the only living planet we know — ours — would cease to exist. Therefore, one good place to look for potential life on other planets is the Goldilocks Zone, which has also come to be used as a reference meaning “the perfect conditions” for some ideal state or goal.

“Going viral” isn’t always desirable

We crave it in our social media feeds, but avoid it like the plague when it is the plague — viral contagion can both giveth and taketh away. In America we’ve recently been having both as of this writing.

Whereas the Goldilocks Zone presupposes limits at both ends, unbounded growth expects no limits to ever be encountered from the start. In a finite world inside a finite universe, it is simply unlikely to be true with much regularity.

You could say that Goldilocks Zones know a lot about establishing boundaries, while the infinite growth areas tend to extremism. Beyond the pandemic, cancer is another infamous candidate for illustrating the dangers of growth without bounds. Arguably, hypercapitalism belongs.

The Goldilocks Zone is a moderate

Goldilocks Zones are akin to the center of the Bell curve; the boundaries of the margin of error; the middle path. James Madison would have been a fan of the Goldilocks Zone — it would have smelled to him like his own concept of the moderating force of many factions preventing too much extremism from taking root in governance, and reminded him of the insights of the Marquis de Condorcet.

“Moderation in all things” was made famous by first the Greeks and later the Romans. It is a kind of ancient wisdom that turns out to have very old roots indeed — back even to the early days of the universe.

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