Common Plots of Economic History - Deepstash
Seven universal plots

There are only seven plots that are so fundamental to the way we tell stories that every storyteller uses one of them: Overcoming Monsters, Rags to Riches, The Quest, Voyage and Return Rebirth,...

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Common Plots of Economic History

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Looking for a few universal plot patterns reveals things fundamental to how all people think, which are likely to be repeated in the future and relevant to your own situation. This idea also applie...

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  • People seem to want the same economic things – security, power, admiration, fulfillment.
  • They tend to use the same tactics to acquire those things -...

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A good idea taken to the furthest extreme becomes indistinguishable from a terrible idea.

The most important technological breakthroughs deliver such a high that most will f...

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The only thing harder than gaining a competitive edge is not losing an advantage when you have one.

Sears was the largest retailer in the world and so dominant at retail...

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Five things contribute to the gravitational pull of competitive advantages:

  1. Being right instills too much confidence that you can’t be wrong. But the outlier success will have competit...

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Future progress is underrated because past progress is misunderstood.

  • There are times when optimism is so great and so broad that we become blind to future ris...

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  1. Past progress as a one-time event misses how much of progress is incremental. A breakthrough never occurs in isolation but is the product of many little discoveries, often me...

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Surprises are constant, and not necessarily because we’re bad at predicting, but because everything important in the economy is driven by power laws where a tiny portion of things are responsible f...

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The ability to believe things that aren't true or haven't happened yet is the foundation of all economic growth and decline.

Every society tells fictional stories and is wi...

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A breakthrough is a big deal because no one had thought of it before. Because no one had thought of it before means it's likely either illogical or appears to violate previously accepted rules.

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