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The Dunning
The Dunning
The Dunning-Kruger Effect says that we overestimate our knowledge about things
that we know the least about. Or, a bit of knowledge is dangerous because we don’t
know enough to understand how little we actually know. It takes a lot of work and
research to have an informed opinion. I’ve seen this with people’s opinions about
the Federal Reserve’s handling of inflation. They may not be aware of the differences
between demand-pull, cost-push, and monetary-induced inflation, and may be
ignorant of the concept of monetary velocity, yet have strong opinions about what
the Federal Reserve should do and not do.
The book's outline follows the acronym "SUCCES" (with the last s omitted). Each
letter refers to a characteristic that can help make an idea "sticky":
Simple – find the core of any idea or thoughts
Unexpected – grab people's attention by surprising them
Concrete – make sure an idea can be grasped and remembered later
Credible – give an idea believability and credibility
Emotional – help people see the importance of an idea
Stories – empower people to use an idea through narrative