Quote of the Day
Personally, I don't see old economics and behavioural economics as opposed. It is useful to assume people are rational as a good approximation to their long term behaviour, but it would be unwise not to think how in practice their behaviour may deviate from that simplifying assumption.
It's a pretty widely-accepted notion that the atmosphere is a ridiculously complex system, and the best we can do with our models is a rough approximation.
If that enabled us to predict the succeeding situation with the same approximation, that is all we require, and we should say that the phenomenon had been predicted, that it is governed by the laws.
We are looking at a future where to a first approximation, everyone is wealthy.
Like books you will never have the chance to read, there are languages you do not know, and you're not going to get a chance to learn, so you'll never really know what was written, only the approximation.
The first approximation in this future that we're looking at is that everyone will be physically well off. They will have a great abundance in material goods, and I think that will soften some of the conflicts we see now.
Anyone who wants to look at sunlight naturally wipes his eye clear first, in order to make, at any rate, some approximation to the purity of that on which he looks; and a person wishing to see a city or country goes to the place in order to do so.
I tell students, 'If you are learning from YouTube I almost don't want to teach you because what you learn from YouTube it takes 10 times as long to unlearn.' They do an approximation of the centre of the note, an approximation of the interpretation, a cloned version.
Kiri Te Kanawa
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