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09/15/2020

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Very insightful.

Precision in behavioral economics is a chimera. There are as many truths as there are individuals. Numbers offer false confidence. Statistics are simply measurements with a standard error. A perfectly accurate number is often perfectly irrelevant. Statistics don't lie but statisticians do. Price is not value. If every employer pays above average, then the average rate will be above average.

Many managers actually say, "In my department, above average is average." And they MEAN it.

...your turn.

This post reminds me of the "tight but loose" dynamic of Led Zeppelin.

Jimmy Page of Led Zeppelin, who when asked about how they functioned as a band, answered that they were “tight but loose.” Tight as a band playing together, but loose in terms of being able to express themselves creatively as individuals.

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