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Same As It Ever Was · Collaborative Fund

Same As It Ever Was · Collaborative Fund

https://www.collaborativefund.com/blog/same-as-it-ever-was/

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The Lessons Of History

The Lessons Of History

History is a treasure-house of learning, and as many books teaching us lessons from history point out, what was true in the medieval ages is often true even now, though the circumstances, technolog...

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Voltaire

“History never repeats itself, but man always does.”

Voltaire

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1920 and 2020

1920 is a hundred years apart from 2020, yet how people think is largely unchanged. Human behaviour is still hinged on greed, fear, opportunity, scarcity, and basic instincts.

We have no id...

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Big Risks Vs Small Risks

Small risks can sometimes combine, compound and mutate into something big. Yet the attention is always on the big stuff, and the small stuff happening around is largely ignored by all.

...

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Having A Positive Outlook

Optimism helps us dumb down and decrease the pain and difficulties that the future likely holds, and provides us with hope with regards to our options.

Even now, with the state of income mo...

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Pain Is Short-Term

Pain is a short-term loss, but may have some long-term gain.

Exercising can be painful or tedious for some and has great benefits if done regularly. Telling the truth can be painful, bu...

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Avoidance Of Pain

History shows us that people avoid pain and exertion, would lie to avoid a painful situation and would create hacks or shortcuts to skip through pain, often leading to worse problems at a later sta...

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Life-altering Experience

A person’s behaviour, once formed, largely remains unchanged. However, a major, life-changing event, that causes hardcore stress, can undo behavioural patterns.

It’s the basis of Post Traum...

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The No. 1 Constant: Disagreement

When we are ‘hit’ by something huge, and unpredictable, we tend to explain it with great force and start forecasting with greater conviction, as if we know a lot about life. Someone who hasn’t expe...

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SIMILAR ARTICLES & IDEAS:

Three different sides of risk

  • The odds you will get hit.
  • The average consequences of getting hit.
  • The tail-end consequences of getting hit.

The first two are...

The tail-end consequences

The tail-end consequences of an action or event (those with low-probability, high-impact) are all that matter.

In investing, the average consequences of risk make up most of the daily news headlines. But the tail-end consequences of risk (for example, pandemics and depressions) are what make the pages of history books.

Seven universal plots

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,...

Economic history

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 applies to how the economy works.

Economic history can seem complicated because it's part of politics, psychology, sociology, criminology, biology, military, technology, education, finance, etc. But within all that complexity is a lot of similarities.

The lens to look through

  • People seem to want the same economic things – security, power, admiration, fulfillment.
  • They tend to use the same tactics to acquire those things - work, risk, incentives, persuasion, theft, control.
  • They tend to fall for the same flaws pursuing those things - overconfidence, pessimism, underestimating how fast things can change, etc.

Although economic history may seem complicated, there are only a small number of broad story plots throughout the world and throughout time.

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Knowledge And Wisdom

  • Knowledge is the factual information, the awareness, and understanding of a subject. It is basically information about something that comes from learning facts.

The Time Factor

More time means that a person can attain more knowledge, but as knowledge is a passive acquisition of facts and data, having more knowledge does not mean having wisdom.

Wisdom tends to be less affected by time, as it requires additional steps of applying judgement, drawing conclusions and adapting one’s behaviour accordingly.

Application of Knowledge and Wisdom

  • Wisdom is related to knowledge, just as practice is related to theory. Wisdom is intrinsic whereas knowledge comes from external sources.
  • Application of wisdom requires more than facts and data, like speculations, feelings, moral and ethical values. Applying knowledge is a much simpler and more linear process.

Example: Development of nuclear weapons requires knowledge, but during wartime, using nuclear weapons on a country requires wisdom.