We don’t have to worry when someone is wrong – despite Richard Thaler’s recent Nobel Prize nibbling away at the margins of the point, we know that humans are not systematically biased toward error. So, someone who is wrong is likely to be outweighed by someone who is not in error and we end up, societally, at least approaching the right solution.
The time to panic, though, is when some or all are gripped by delusion — when we have a general belief in something which just isn’t. As Mark Twain said, “It isn’t what you don’t know that’s dangerous, it’s what you’re certain is but ain’t.”
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.