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Showing posts from November, 2010

Decision Making

There's an interesting discussion going on at Hacker News about using Reason vs. Intuition - but one of the answers to it is quite pertinent to any kind of decision making. I found it worth reproducing for the benefit of all of you to be used in any situation. There are three tools for discovering truth and making decisions: reason, intuition, and revelation. Revelation means ask an expert, read the documentation. It is most appropriate when you don't know what you're doing at all -- when you have no sound first principles to feed into the engine of reason, and no experience on which to build intuition. Revelation is fast but limited; you instantly gain a conclusion as sound as your expert, but you cannot improve upon or critique it. Reason is most appropriate when you have moderate experience in a field. Through revelation and limited experience, you have developed some sound, inviolable principles, and can reason your ways to new ones. You know what  must  go here beca

Vinimay (Arthvyavastha - Part III)

Continued from here: Tamrapatrak Vyavastha (Arthvyavastha - Part II ) Anugam's tamrapatrak scheme received a phenomenal response - also because Anugam had offered his tamrapatraks at a discount to all the workmen whom he employed or bought his wares from. Saakshaat became the official scheme operator for Anugam also, and soon many more traders wanted to float their tamrapatraks. By the end of the year, two more traders had started tamrapatrak schemes, and many more were planning to launch in the next year. Saakshaat then started training more and more young pundits on managing tamrapatrak schemes - he realized that this would be a huge business and efficient and skilled handling of  tamrapatraks would make them even more popular. With more than one tamrapatrak schemes in the market, people often came to Saakshaat looking for advice on which scheme to put their money in. Some even wanted to surrender tamrapatraks from one trader  and buy someone else's in exchange. During