Todd Suomela's Library tagged accumulation →  View Popular, Search in Google

"David Harvey’s new book, Rebel Cities, is the latest entry in his life-long interest in uncovering the intersection between capitalism and urbanization. It’s a collection of previously published, but updated and revised, essays and articles. They are all particularly important to our understanding of both the long fall out of 2008’s economic crash and the rise of urban revolts in Egypt, Greece, New York and elsewhere. "

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"The underlying issue seems what they call the correlation heuristic: people think that the behavior of a stock (the amount of water in the tub) should be similar to the behavior of its inputs (the rate at which water pours from the faucet). This is especially a problem when it comes to understanding climate change. In another experiment, most people thought that stabilizing emissions was sufficient to stabilize the level of carbon dioxide in the atmosphere; if you think about it, though, you should realize that if you want the level to be stable, inflows have to equal outflows (and right now inflows are about double outflows)."

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"Accumulation is a fundamental process in dynamic systems: inventory accumulates production less shipments; the national debt accumulates the federal deficit. Effective decision making in such systems requires an understanding of the relationship between stocks and the flows that alter them. However, highly educated people are often unable to infer the behavior of simple stock–flow systems. In a series of experiments we demonstrate that poor understanding of accumulation, termed stock–flow failure, is a fundamental reasoning error. Persistent poor performance is not attributable to an inability to interpret graphs, lack of contextual knowledge, motivation, or cognitive capacity. Rather, stock–flow failure is a robust phenomenon that appears to be rooted in failure to appreciate the most basic principles of accumulation, leading to the use of inappropriate heuristics. We show that many people, including highly educated individuals with strong technical training, use what we term the “correlation heuristic”, erroneously assuming that the behavior of a stock matches the pattern of its flows. We discuss the origins of stock–flow failure and implications for management and education."

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"But there is a negative underbelly to this human drive toward achievement. It can become a disease where, no matter how much some people get, they keep wanting more, and the result is not only chronic unhappiness for themselves and those around them, it is also often propels unethical and otherwise inhuman behavior. "

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