On Being Wrong

I’ve been meaning to write about the topic if “being wrong”. There’s some great material out there and it’s a Big Deal. Innovation demands failure. New knowledge requires mistakes, whether personal or, preferably, learned from others’ previous stumbles. Yet admitting errors is very rare in today’s political-social-economic environment. So it’s worth highlighting when a high profile public figure admits an error. Not a “I got caught cheating/lying/stealing and here’s my mea culpa“. Not a “it’s safe to be wrong with the herd and nobody could have known”. Not a “I would have been right if not for those dastardly fellows”. Just a simple “The data does not support my prior assertions. It appears I was wrong.

Now if we could only see more of this on the big picture stuff – failed frameworks, changing circumstances, probabilities vs. certainties, etc.

This entry was posted in Finance and Markets, Logic and Frameworks, Policy and Tax and tagged , , . Bookmark the permalink.

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