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Ready to learn the most important takeaways from Fooled By Randomness in less than two minutes? Keep reading!
Why This Book Matters:
Fooled by Randomness explains how small, random conditions that appear insignificant and ignored by most people can have life-changing effects.
The Big Takeaways:
- Theories are based on changeable observation.
- If New observations can change long-held theories simply because someone sees something new.
- Empirical science is based on a concept known as induction.
- Induction is when we observe the world around us then make inferences.
- Human reason is based on context known as heuristics.
- Instead of using good judgment and looking at all sides of an issue, we tend to fall back on biases that lead to bad decisions.
- Emotions are necessary to make decisions.
- Emotions can also feel overwhelming and lead us to make wrong decisions or no decisions.
- Random noise wastes time and energy.
- Most information that we hear and read in the media has very few constructive qualities.