Distilling the conversation with @bryan_caplan hosted by @tylercowen 1) There has been a traditional separation between:
+ "liberal education" for free men, (liber), who didn't work for a living, &
+"technical education", for those who labor.
2) For instance, mathematics as taught for "liberal" education, was theoretical mind exercise. Euclid's theorem was never used in building.
Meanwhile builders (parts of guilds with trade secrets) were using their own heuristic, richer, geometry. (see #Antifragile)
3) The Anglo-Saxon world conflated the two, with aristocrat-envy:
+ Education to be civilized. (Literature, philosophy, poetry, abstract math, history, stamp collecting, etc.)
+ Education to learn to do things. (Engineering, medicine, accounting, law, belly dancing, plumbing)
1) This is a grrrrreat case study by Maestro Bogomolny @CutTheKnotMath showing OPTIONALITY matters more than skills: You can have >53% chance of winning when odds are against you is you have the option of switching between 2 (strategies, both of which have odds against you).
3) The general principle #Antifragile is that when the payoff is bigger or you have your back to the wall you go for maximum variance (convexity).
When the downside is bigger you go for minimum variance.
Why explains why winning teams mark time and losing teams take risks.
A thread on things I took/learnt from @RayDalio's book "Principles" (~150 things)
1- Line 2 of book - “I’m a ‘dumb shit’ who doesn’t know much relative to what I need to know. Whatever success ive had in life has had more to do with my knowing how to deal with my not knowing anything I know”
2- “The most important thing I learned is an approach to life based on principles that help me find out whats true and what to do about it”