Hayek, the knowledge problem man, himself makes the argument* that most often it is best to select the norm. That this norm is the product of lots of calculation that would be expensive for you to redo.
I think it was Thoreau who wrote a story about a man that each day on awaking would remember nothing from the day before; who would then have to rediscover the use of a chair and pencil. This man could only get so far in life.
The rational man knows that he can only get so far in life if he is always re-calculating instead of working off of what others have done.
One of the most important skills to develop is the skill of knowing when when you need to re-calculate.
One reference would be in the first part of law legislation and liberty (v1)
I think it was Thoreau who wrote a story about a man that each day on awaking would remember nothing from the day before; who would then have to rediscover the use of a chair and pencil. This man could only get so far in life.
Anyone know what story? It sounds interesting. Also see the film Memento.
I agree,
Hayek, the knowledge problem man, himself makes the argument* that most often it is best to select the norm. That this norm is the product of lots of calculation that would be expensive for you to redo.
I think it was Thoreau who wrote a story about a man that each day on awaking would remember nothing from the day before; who would then have to rediscover the use of a chair and pencil. This man could only get so far in life.
The rational man knows that he can only get so far in life if he is always re-calculating instead of working off of what others have done.
One of the most important skills to develop is the skill of knowing when when you need to re-calculate.
One reference would be in the first part of law legislation and liberty (v1)
Anyone know what story? It sounds interesting. Also see the film Memento.