This reminds me of a similar issue I thought about when I first learned about the efficient market hypothesis (EMH) with respect to the stock market. The similarity is that if EMH were to be true, it dissuades people from seeking investment strategies that produce consistently out-sized returns relative to their risk, which in turn reduces the efficiency of the market. So you don't want too much belief in the EMH - in the same way you dont want too much belief in the Myth of the Lone Genius (MotLG).
It is an interesting problem to tackle: either we believe in EMH and the MotLG too much and dissuade smart people from making amazing... (read 407 more words →)
This reminds me of a similar issue I thought about when I first learned about the efficient market hypothesis (EMH) with respect to the stock market. The similarity is that if EMH were to be true, it dissuades people from seeking investment strategies that produce consistently out-sized returns relative to their risk, which in turn reduces the efficiency of the market. So you don't want too much belief in the EMH - in the same way you dont want too much belief in the Myth of the Lone Genius (MotLG).
It is an interesting problem to tackle: either we believe in EMH and the MotLG too much and dissuade smart people from making amazing... (read 407 more words →)