Thursday, June 9, 2016

I'm guessing Darwin would approve....

.......................after all, it was his sentiment that the most "adaptable", not the "fittest",  would survive.

"A coping strategy is a way of capturing that unfathomable mystery.  Humans are not pre-programmed to solve complex mathematical optimizing problems, because it is impossible to know in advance which problems they will need to solve.  But the are programmed to learn and to adapt.  Coping strategies are the natural, even perhaps genetic response to the need to adapt to an uncertain world.  The are, in Gigerenzer's phrase, 'ecologically rational';  that is, they are decision processes that are well suited to the environment in which they are used.  In that sense, in a world of radical uncertainty they are more rational that the economists' assumptions of optimising behavior."

-Mervyn King,   The End of Alchemy:  Money, Banking, and the Future of the Global Economy

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