Re: [Pen-l] Bubble Psychology [was: thinking the unthinkable

["Jim Devine" <jdevine03@xxxxxxxxx>]

Max Sawicky wrote:
> Methinks optimism bias is not unique to capitalism.  Just ask Don Quixote.

this is another example of the logical slip I complained about
yesterday. I said that capitalism encourages over-confidence and you
respond with an over-interpretation, i.e., assuming that I said that
capitalism was the _only_ source of over-confidence.

obviously, other types of society besides capitalism involved
situations where over-confidence is needed as a psychological survival
mechanism. But it's capitalism which tends to make those situations
the rule. (Luckily capitalism hasn't realized that tendency
completely; as noted, there are pre-existing institutions of other
sorts.)

also, didn't Cervantes see Don Q as crazy? a holdover of feudalism in
the beginnings of capitalism?
-- 
Jim Devine /  "Nobody told me there'd be days like these / Strange
days indeed -- most peculiar, mama." -- JL.
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