Yale Finance professor Kelly Shue explains non-proportional thinking and the mistakes it can cause you to make in arenas as disparate as trading stocks or picking medical treatments
As a science oriented freshman at Penn many years ago I took Econ 1a and b, thinking I should take advantage of the opportunity of being at an exalted business school. I was amazed that it seemed to be teaching " theories" that were really just common sense in the most obvious ways, not at all worthy of being taught at a scool of that level. This reminds me of that; are business people really that intellectually challenged? It explains why, as we allow and support the corporate takeover of everything in our society, including health care at every level, education, and politics, our society is suffering so much. If this needs to be "taught" to business leaders it means business leaders have no leadership qualities. Do they excel only in greed? Do the rest of us sit idly by and let it continue? Perhaps that might be a better choice of topics?
As a science oriented freshman at Penn many years ago I took Econ 1a and b, thinking I should take advantage of the opportunity of being at an exalted business school. I was amazed that it seemed to be teaching " theories" that were really just common sense in the most obvious ways, not at all worthy of being taught at a scool of that level. This reminds me of that; are business people really that intellectually challenged? It explains why, as we allow and support the corporate takeover of everything in our society, including health care at every level, education, and politics, our society is suffering so much. If this needs to be "taught" to business leaders it means business leaders have no leadership qualities. Do they excel only in greed? Do the rest of us sit idly by and let it continue? Perhaps that might be a better choice of topics?
Thank you for sharing it - good post that makes me think :)