Tag: Economic Theories
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Opportunism
Opportunism, fundamentally characterized by the pursuit of immediate benefits, manifests in politics, business, and personal relations, emphasizing short-term gains over long-term stability and ethics. Its evolution, rooted in adaptability and moral flexibility, offers a complex perspective on decision-making across various contexts.
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Goodhart’s Law
Coined by Charles Goodhart, the principle “When a measure becomes a target, it ceases to be a good measure” highlights the unintended repercussions of emphasizing a singular metric. Originating from monetary policy observations, the principle reveals how entities adjust their behaviors in response to metrics becoming primary objectives across diverse sectors.
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Oversimplification
Oversimplification reduces intricate ideas to basic summaries, potentially obscuring important details and fostering generalizations that might mislead, often affecting both the individual understanding and broader public discourse.
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As-If
Originating from the works of philosopher Hans Vaihinger, the “As-If” approach facilitates the analysis of complex systems using hypothetical scenarios. This methodology, while not always reflecting true conditions, aids in rendering intricate concepts more comprehensible.