Is it “Nature or Nurture”? Michael Shermer, talking about his excellent book, “The Mind of the Market”, said,
“Since I was a teenager, I’ve been a libertarian. I noticed that there are not so many of us and that most people find us a bit strange. Most people have a hard time with the idea of so much freedom in the market place. Now, why is that? When I started applying evolutionary thinking to the process, thinking about folk intuitive notions of things and why people get so many areas of science wrong intuitively, it began to make sense to me. With folk astronomy we have an intuitive notion that the world is flat, celestial bodies revolve around the earth. That’s the way it feels. The planets are wondering gods that determine our future.”
“In folk economics, we have an intuitive notion that excessive wealth is wrong. Economic systems must be designed from the top down. We misunderstand and mistrust ‘the invisible hand” of the market place (note: Charles Darwin also read the work of Adam Smith). The reason why folk science so often gets it wrong is that we evolved in an environment radically different from the one in which we live. We still have a sweet tooth and biological inclination to eat fat, because food was always scarce. That’s why we have an obesity epidemic right now. Our senses are geared for perceiving objects of middling size, between say ants and mountains.”
“Not bacteria, molecules and atoms on one side of the scale and stars and galaxies on the other end. We live to short to witness evolution, continental drift or long-term environmental changes. That’s why we still have an inclination to want products now, versus products later at a considerable discount. It is human nature.”
Working On Our Perceptions, Beliefs, and Limitations
Whether the cause of our small, limited, scarcity, fear-based thinking is the result of our socialization, education, and the people we mix with, or indeed, as Mr. Shermer suggests, far deeper, those who wish to make it big in the world of business need to work on our perceptions, beliefs, and expectations.
The good news is that we can change and break free of our limited thinking, and that very few people will take the time to analyze and acknowledge their limitations, let alone take steps to correct them.
That means that we have very little competition, and that the world is, indeed, our oyster.
Add a working knowledge of Joint Ventures, and you’re ready for great accomplishments!
January 23rd, 2010 at 6:37 pm
Greetings! I have to say that I have actually been a staunch fan of your articles regarding JVs, business, finance, banking, and other relevant areas. This is my first comment on your site. I have been undergoing a huge paradigm shift in my way of thinking. I grew up thinking more like a liberal socialist, but now becoming more of a staunch libertarian. I totally believe in the free market economic system, independence, & freedom. I love & support true capitalism and despise all other systems, period. The other systems are diabolically apposed to God the creator of all things. They encourage injustices & criminal activities. They also reward evil doers while the righteous get punished. It’s a shame most folks, at least 98% are actually more socialistic & cynical in their way of thinking. These same people tend to have entitlement mentalities expecting big brother (GOVERNMENT) to bail the out of self inflicted circumstances. Huge example; the SOCIAL inSECURITY system which the majority of people are looking forward to even this poor’s man’s system offers very little freedom, benefits, & hope. This system is also dilapidating & depressing as well. In all, I came to the conclusion that I don’t want any part of this pathetic system during my senior years. I desire more out of life.This system is nothing more than a form of illness & death. It actually exposes the gross unaccountability & irresponsibility of people as well. What a crying shame. This crap sickens me to the core. I’m in the process of becoming a global entrepreneur & private banker right now, forget about the average stuff. Keep up the good work. Thank you Mr. Robin Elliott for all you candid articles.