A Quote by Steven Levitt
An expert must be BOLD if he hopes to alchemize his homespun theory into
conventional wisdom.
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Conventional wisdom is no wisdom at all. Conventional wisdom is taking somebody else's word for the way things are It's the followers of this world who rely on assumption. Not the leaders.
However, I must not indulge in homespun wisdom here before so distinguished an assembly, especially as I am to be followed by a representative of science.
Conventional wisdom is invariably out of date. Because in the time it has taken to become conventional - to become what everyone believes - the world has moved on. Conventional wisdom is a remnant of the past.
God’s power rests not on totalizing omnipotence, but on His ability to alchemize suffering, tragedy, and loss into wisdom, understanding, and joy.
The problem in our society is the ego psychology and conventional wisdom about "look out for #1." That conventional wisdom thinks that "love your enemy" is to some a principle no one can ever live by.
I don't believe any experiment until it is confirmed by theory. I find this is a witty inversion of "conventional" wisdom.
If you are the kind of person who listens to conservative advice, you may do okay in life, but you probably won't ever be a fantastic leader. You have to take risks, and you also have to go against conventional wisdom, because conventional wisdom doesn't make for startling advances in society.
When you find errors in conventional wisdom-when everyone says A and A is not true-you gain competitive advantage. Only a few times do you have to find errors in conventional wisdom to make a living.
Wisdom always makes men fortunate: for by wisdom no man could ever err, and therefore he must act rightly and succeed, or his wisdom would be wisdom no longer.
The Judo pupil, therefore, must cultivate his mind; he must never feel fear, never lose his temper, never be off his guard; but he must be cool and calm, though not absent-minded; he must act as quick as thought, according to circumstances. He must also be dexterous as well as bold both in attack and in defense.
WISDOM IS dependent upon knowledge. Where there is complete ignorance there can be no wisdom, no knowledge of the right thing to do. Man’s knowledge is comparatively limited and so his wisdom must be small, unless he can connect his mind with a knowledge greater than his own and draw from it, by inspiration, the wisdom that his own limitations deny him. Only God knows all truth; therefore only God can have Real wisdom or know the right thing to do at all times, and man can receive wisdom from God. Wisdom is obtained by reading the mind of God.
The conventional wisdom is often wrong. Crime didn't keep soaring in the 1990s, money alone doesn't win elections, and - surprise - drinking eight glasses of water a day has never actually been shown to do a thing for your health. Conventional wisdom is often shoddily formed and devilishly difficult to see through, but it can be done.
The hardest thing over the years has been having the courage to go against the dominant wisdom of the time to have a view that is at variance with the present consensus and bet that view. The hard part is that the investor must measure himself not by his own perceptions of his performance, but by the objective measure of the market. The market has its own reality. In an immediate emotional sense the market is always right so if you take a variant point of view you will always be bombarded for some time by conventional wisdom as expressed by the market.
Conventional wisdom tells us to avoid taking unalterable action while at a low point in life. I have never been conventional.
It is not enough for theory to describe and analyze, it must itself be an event in the universe it describes. In order to do this theory must partake of and become the acceleration of this logic. It must tear itself from all referents and take pride only in the future. Theory must operate on time at the cost of a deliberate distortion of present reality.
A minister, without boldness, is like a smooth file, a knife without an edge, a sentinel that is afraid to let off his gun. If men will be bold in sin, ministers must be bold to reprove.
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