There's 2 varieties of subjectivism:

  • Hayekian subjectivism of limited knowledge, and limited reason, and error, resulting in Bayesian probabilities in the .8 range and below, with required updating, and impact on making +EV decisions...

  • Hippie subjectivism of you believe what you want to believe, and I believe what I want to believe.


There's also the subjectivism of taste, sometimes known as consumer sovereignty (the idea, from David Friedman's The Machinery of Freedom, that a person's own good is defined as whatever he says it is). Not believing in that leads to outbreaks of senseless and counterproductive nannyism, whether carried out alone or with the help of authorities.

Rationality Quotes December 2011

by Jayson_Virissimo 1 min read2nd Dec 2011586 comments


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