{"id":17176,"date":"2016-01-31T13:45:03","date_gmt":"2016-01-31T18:45:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=17176"},"modified":"2016-01-31T13:45:03","modified_gmt":"2016-01-31T18:45:03","slug":"how-the-masses-deal-with-risk-and-why-they-remain-poor","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=17176","title":{"rendered":"How The Masses Deal With Risk (And Why They Remain Poor)"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/capitalistexploits.at\/2016\/01\/how-the-masses-deal-with-risk-and-why-they-remain-poor\/\" target=\"_blank\">How The Masses Deal With Risk (And Why They Remain Poor)<\/a><\/h3>\n<p class=\"p-meta\">Last week I discussed\u00a0<a href=\"https:\/\/capitalistexploits.at\/2016\/01\/risk-management-lessons-drunk-welshman\/\" target=\"_blank\">how humans are wired to pay attention to scary things.<\/a>In financial speak: risk. Darwinism has chastised those who ignore risk by rewarding them with an early grave, and by process of elimination rewarded those who stay out of the cross hairs.<\/p>\n<\/header>\n<div class=\"entry-content content\">\n<p>Thing is, we no longer live in a world where saber-toothed tigers threaten our existence. In today\u2019s world far greater risk lies in the truly enormous and disproportionate emotional attitude to (and assessment of) risk.<\/p>\n<p>This has nothing to do with Darwin but rather more to do with an educational system designed and built for the industrial age.\u00a0Education today is an advertising agency which leads us to believe we need the society on which it relies upon for its existence.<\/p>\n<p>Beginning with the schooling system and followed by \u201chigher education\u201d, the middle and upper middle class in developed societies are by and large serfs. And they\u2019re serfs because they don\u2019t understand risk.<\/p>\n<p>The overwhelming majority look at risk incorrectly. They look at it two dimensionally:\u00a0<em>\u201cThe more risk I take the more \u2018volatility\u2019 I have.\u201d<\/em>\u00a0The fact is, risk is actually subjective to your own personal situation. Mismanaging your own personal situation increases risk disproportionately.<\/p>\n<p>Let me give you an example of how easily an otherwise intelligent person gets royally screwed by the system by routinely miscalculating risk.<\/p>\n<p>Let\u2019s take Harry, a fictional guy from a middle class family who\u2019s just left high school. Harry really wants to get ahead and has set himself a goal of becoming a millionaire by the time he\u2019s 25. He figures that by 35 he\u2019ll be worth north of $10 million.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>How The Masses Deal With Risk (And Why They Remain Poor) Last week I discussed\u00a0how humans are wired to pay attention to scary things.In financial speak: risk. Darwinism has chastised those who ignore risk by rewarding them with an early grave, and by process of elimination rewarded those who stay out of the cross hairs. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[8785,9644,12094,690,1271,11163,2773],"class_list":["post-17176","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-capitalist-exploits","tag-class","tag-darwinism","tag-risk","tag-serfdom","tag-serfs","tag-volatility"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17176"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17176\/revisions"}],"predecessor-version":[{"id":17177,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17176\/revisions\/17177"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}