Interesting piece. It makes me realize why so many people will pass over win-win games, because they are suspicious, but will happily play guaranteed loss games, like roulette, because the loser is obvious.
Not a fan of Peter Thiel at all, but I like this article. The whole sacrifice for greater power is very much an intuitive thing. But intuition isn't always correct. Another example I can think of is the idea that higher wages mean lower labor cost. That's completely unintuitive, even Google's AI tried to fact check me on this (lol). But it's not just moderns who think this way, the the pagans of Ancient Greece and Rome did so also, which was why they made heavy use of slavery (and usury). Yet this was something that German economist Heinrich Pesch put forward when he mentioned about an English railroad builder who constructed railroads throughout the world. And his experience showed exactly that: higher wages will lead to lower labor cost (except for Hindus, for some reason lol). One guy who really demonstrated this was Henry Ford who instituted the $5 wage, popularizing the minimum wage as we know it (at least in the US).
Interesting piece. It makes me realize why so many people will pass over win-win games, because they are suspicious, but will happily play guaranteed loss games, like roulette, because the loser is obvious.
I have not thought of this angle but yes definitely sounds like a sacrificial mindset!
Not a fan of Peter Thiel at all, but I like this article. The whole sacrifice for greater power is very much an intuitive thing. But intuition isn't always correct. Another example I can think of is the idea that higher wages mean lower labor cost. That's completely unintuitive, even Google's AI tried to fact check me on this (lol). But it's not just moderns who think this way, the the pagans of Ancient Greece and Rome did so also, which was why they made heavy use of slavery (and usury). Yet this was something that German economist Heinrich Pesch put forward when he mentioned about an English railroad builder who constructed railroads throughout the world. And his experience showed exactly that: higher wages will lead to lower labor cost (except for Hindus, for some reason lol). One guy who really demonstrated this was Henry Ford who instituted the $5 wage, popularizing the minimum wage as we know it (at least in the US).
That’s very counterintuitive! Anything written on the explanation?