I was checking out the latest featured videos on Youtube and I came across this awesome animation. While I can’t claim that I completely understood the whole thing, I really enjoyed the video. The animation had a flow and it was smooth and convincing. It seems that the more one thinks about such things the more hopeless it all starts to look. I really did think that the recent recession was a failure of the regulatory agencies. Turns out that it is impossible for an average guy to be informed enough to really figure out such things.
Watching the video brought to my mind something that I had read long ago. It was basically about a graph that showed the relation between confidence and actual knowledge. When you start out, your confidence level peaks rapidly. But as you learn more, you understand that you actually know very little when compared to the volume of accumulated information. Then your confidence level starts to dip and eventually it will meet up with your actual ability. But, it takes a long time.
Most of us are, I am guessing, in the high-confidence mode. If that indeed is true, then what is the use of depending upon mass opinion to make decisions? If the masses do not know enough, how can they make decisions that require careful study? This is probably why some dude once talked something about democracy being a lesser evil. Let us all hope that we can somehow bumble along until I grow old and die happily!