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“Interesting,” you say, "that we tend to be emotion-driven thinkers rather than follow science and reason and evidence when taking action, “but why should I really care?”

So what if we are emotional. So what if people believe that little green men grab them every night and perform science experiments. So what if stranger abductions aren’t as likely as I thought. Why should I really care?

What’s In It For Me to pursue better Truth-Driven ThinkingSM habits?

Answering a question with a question - What if we are wrong?

While none of us is ever wrong about a dearly held view, particularly on social, health, dietary, foreign policy, or economic issues, there is a question we have to ask. What if we are wrong about things? What is the cost of not having the correct information?

  • What if a low-carb diet is harmful to our health? (last year's example, as Atkins' popularity has plummeted)

  • What if our company’s assumptions about why customers buy our product are wrong?

  • What if a certain alternative medical treatment could kill you?

  • What if DDT was really safe but we allowed one million people per year to die of Malaria?

  • If we think the planet has a long history of radical temperature swings, yet global warming is due to the activity of humans, what is the cost of being wrong?

  • If we believe lower taxes tend to actually increase government revenue, by increasing economic activity, and we act accordingly, what if we’re wrong?

  • Or if we believe in “the one true religion” and someone else believes in the other “one true religion,” what does their misguided belief mean to them? Or heaven forbid we are wrong?

Our special guests poignantly chime in on this topic. The Amazing Randy says it weakens us and makes us prone to financial and health consequences; Dr. Barry Glassner says as a sociologist he’s convinced that acting on false fears costs us dearly because we aren’t focused and spending time and energy on the real ones; which is similar to the views of our economist, Stephen Moore, who also says that making macroeconomic assumptions and policy decisions not supported by data causes us to misallocate scarce and limited resources.

Clearly there are real world and real life ramifications, from poor purchases and investment decisions, to fall for con games and medical miracles that can harm us! There truly are personal costs of taking action as the result of belief in untrue facts, and there are broader social costs of flawed conventional wisdom as well.

 

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Last modified: 03/27/08