Inspired by A. J. Jacobs when he appeared on Russ Robert's great podcast EconTalk (and Curly from City Slickers), Ron and Ed have each been keeping a "One Thing" journal for the last few years. They first shared from this journal back in October 2021, but the time has come to share some more of their best "One Things."
Editor’s note:
Instead of the typical show note format, we have organized both Ron and Ed’s ONE THING into discrete lists below.
Ron’s ONE THING:
Prefer clarity over agreement. —meeting of the minds, Mortimer Adler
Unearned self-esteem is narcissism
DRIP = Data rich, insight poor
FISH = First In, Still Here
There are 2 types of laws. There is law and there is legislation. Laws are descriptive (like gravity). Legislation is prescriptive (and arbitrary like the 55MPH speed limit).
Want to get rich quick? Count your blessings
Wisdom enters through the wound
Pedro Domingos of the University of Washington (while on EconTalk) says, “People worry that computers will get too smart and take over the world, but the real problem is that they’re too stupid and that they’ve already taken over the world.”
When you have to express something that you are pessimistic about, Ron like’s to quote George Will’s “Ohio in 1895 Theory of history”: In 1895 in Ohio, there were two automobiles in entire state — and they collided!
Famous chefs have said that technique trumps ingredient
Paula Scher created the Citi logo on a napkin during the pitch meeting. She’s famous for saying, “People love to buy process”
From Ron’s list, he often uses this quote when people ask what is public choice theory? James Buchanan’s Public Choice Theory says, “It’s Government without romance.”
“Before we decide which opera singer is better, we should listen to both.” What George Stigler is talking about is capitalism vs. socialism — or reality vs. utopia
From Ron’s ONE THING list courtesy of Mark Twain: “If pro is the opposite of con, then the opposite of progress must be Congress.”
On defensive decision making from Rory Sutherland: B2C is where people are avoiding regret. B2B is where people are avoiding blame.
“The best history, is written when we realize that people acted in expectation of a future that was never going to happen.” - Roy Foster on Conversations with Tyler
“Thinking about the unthinkable is interesting.” —Herman Kahn
“Don't be thinking your ambition is corrupt." - Jordan Peterson when asked for his advice for incoming freshmen at college by Peter Robinson
Ed’s ONE THING:
What decision do you or your firm need to make over the next 3 to 6 months?
Regarding the The Vampire Problem: We don’t know if we would be better off becoming a vampire until after we become a vampire. Substitute parent, spouse or other life choice for vampire
Courtesy of Michal Munger, here is a ONE THING from Ed: Capitalism does NOT start with the premise that greed is good. Capitalism starts with the premise greed is a human failing and harnesses that to benefit consumer sovereignty
From Ed (with the obvious disclaimer that this is a personal view and nothing more): It should be just as discrediting to call someone a Marxist as it is a Nazi
The US Constitution is the prettiest pig in an ugly pig competition.
To insure something is to enter into a financial arrangement in which you pay premiums in exchange for a future payment in case of the loss of or damage to the thing insured. If you are making sure that something is going to happen, you ensure it. Different words, different meanings. - Kevin Williamson
Great improvisers are incredibly well prepared. Great improvisation requires an incredible amount of practice and preparation.
From Ed we have Christopher Buckley’s “Yuppie Nuremberg Defense” — “I was only paying the mortgage!”
We like it when our friends like what we like, but we really hate it when they don't hate what we hate.
If you think the sanctions against Russia will be an effective tool by isolating them economically AND you think we should buy American/locally to eliminate the “trade deficit,” it is time for you to pause and reflect.
This is a great ONE THING from Ed towards the end of the show. Courtesy of Rory Sutherland: “But what if we make it pink and increase the price.”
Bonus Content is Available As Well
Did you know that each week after our live show, Ron and Ed take to the microphone for a bonus show? Typically, this bonus show is an extension of the live show topic (sometimes even with the same guest) and a few other pieces of news, current events, or things that have caught our attention.
Click the “FANATIC” image to learn more about pricing and member benefits.