Comments on: robert shiller’s basket cases http://knackeredhack.com/2009/05/21/robert-shillers-basket-cases/?utm_source=rss&utm_medium=rss&utm_campaign=robert-shillers-basket-cases the curious study of broken things Wed, 08 Feb 2012 11:37:57 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: katim http://knackeredhack.com/2009/05/21/robert-shillers-basket-cases/comment-page-1/#comment-194437 katim Mon, 06 Jun 2011 23:58:41 +0000 http://knackeredhack.com/?p=508#comment-194437 Robert shiller’s basket cases, An statistical analysis of my own movements over the past 12 months might show that I’m already following this rule. <a href="http://www.zahal.org/groups/sig-sauer-z" rel="nofollow">Sig p238 holster </a> Robert shiller’s basket cases, An statistical analysis of my own movements over the past 12 months might show that I’m already following this rule.
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]]> By: judis http://knackeredhack.com/2009/05/21/robert-shillers-basket-cases/comment-page-1/#comment-194427 judis Tue, 31 May 2011 16:10:16 +0000 http://knackeredhack.com/?p=508#comment-194427 the stand-up economist, this is just like same with stand up comedian, they are entertaining the people in the club or any occasion. <a href="http://knackeredhack.com/2009/05/21/robert-shillers-basket-cases/#idc-container" target="_blank">how to get rid of acne scars</a> the stand-up economist, this is just like same with stand up comedian, they are entertaining the people in the club or any occasion. how to get rid of acne scars

]]> By: karat http://knackeredhack.com/2009/05/21/robert-shillers-basket-cases/comment-page-1/#comment-194425 karat Tue, 31 May 2011 16:06:58 +0000 http://knackeredhack.com/?p=508#comment-194425 dsfdasfsadfdsafsaf dsfdasfsadfdsafsaf

]]> By: knackeredhack http://knackeredhack.com/2009/05/21/robert-shillers-basket-cases/comment-page-1/#comment-96520 knackeredhack Tue, 23 Jun 2009 10:33:04 +0000 http://knackeredhack.com/?p=508#comment-96520 Dave, The silencing of dissent in the way you describe does have a long history and I think it's fair to say is built into religion and mythology with the concepts of Cassandra and the scapegoat. Shiller also describes in his talks at least (can't fully remember if it is in the books) the pressure on him to stop repeating warnings in meetings with regulators because the participants start to act as if you are being rude. If even people like Shiller admit to a form of self-censorship over time because of peer pressure, it shows how powerful that pressure can become. Tim Dave,

The silencing of dissent in the way you describe does have a long history and I think it’s fair to say is built into religion and mythology with the concepts of Cassandra and the scapegoat. Shiller also describes in his talks at least (can’t fully remember if it is in the books) the pressure on him to stop repeating warnings in meetings with regulators because the participants start to act as if you are being rude. If even people like Shiller admit to a form of self-censorship over time because of peer pressure, it shows how powerful that pressure can become.

Tim

]]> By: Dave H http://knackeredhack.com/2009/05/21/robert-shillers-basket-cases/comment-page-1/#comment-96501 Dave H Tue, 23 Jun 2009 07:43:55 +0000 http://knackeredhack.com/?p=508#comment-96501 They have an interesting point about social osmosis and the herd mentality. I've recently been reading Edward Chancellor's "Devil Take The Hindmost" (a study of bubbles written at the time of the dotcom collapse and which has languished unread since, I'm ashamed to say) and it covers in a more simplistic way much the same idea. The closer one gets to the peak of a bubble, the more herd mentality kicks in - people are willing to live with cognitive dissonance for as long as the perceived chance of gain outweighs the actual pain. One of the social mechanisms that groups use to reinforce their idea is the pillorying of dissenters and the lauding of those who concur. The parallels drawn in the book between the major bubbles it covers (Dutch tulips, South Sea stock, Victorian railways, the US Gilded Age and Roaring 20s...) are striking not so much for the underlying economic and financial drivers such as they are, but for the sociological echoes. They have an interesting point about social osmosis and the herd mentality. I’ve recently been reading Edward Chancellor’s “Devil Take The Hindmost” (a study of bubbles written at the time of the dotcom collapse and which has languished unread since, I’m ashamed to say) and it covers in a more simplistic way much the same idea. The closer one gets to the peak of a bubble, the more herd mentality kicks in – people are willing to live with cognitive dissonance for as long as the perceived chance of gain outweighs the actual pain. One of the social mechanisms that groups use to reinforce their idea is the pillorying of dissenters and the lauding of those who concur. The parallels drawn in the book between the major bubbles it covers (Dutch tulips, South Sea stock, Victorian railways, the US Gilded Age and Roaring 20s…) are striking not so much for the underlying economic and financial drivers such as they are, but for the sociological echoes.

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