“
We must question the story logic of having an all-knowing all-powerful God, who creates faulty Humans, and then blames them for his own mistakes.
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Gene Roddenberry
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I handed them a script and they turned it down. It was too controversial. It talked about concepts like, 'Who is God?' The Enterprise meets God in space; God is a life form, and I wanted to suggest that there may have been, at one time in the human beginning, an alien entity that early man believed was God, and kept those legends. But I also wanted to suggest that it might have been as much the Devil as it was God. After all, what kind of god would throw humans out of Paradise for eating the fruit of the Tree of Knowledge. One of the Vulcans on board, in a very logical way, says, 'If this is your God, he's not very impressive. He's got so many psychological problems; he's so insecure. He demands worship every seven days. He goes out and creates faulty humans and then blames them for his own mistakes. He's a pretty poor excuse for a supreme being.
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Gene Roddenberry
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Oh my God, calm down, Darwin. Don't get all crazy just 'cause I threw a vampire monkey wrench in your faulty Jesus-zombie logic.
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Jenny Lawson (Let's Pretend This Never Happened: A Mostly True Memoir)
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Perfectionism is addictive, because when we invariably do experience shame, judgment, and blame, we often believe it’s because we weren’t perfect enough. Rather than questioning the faulty logic of perfectionism, we become even more entrenched in our quest to look and do everything just right. Perfectionism actually sets
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Brené Brown (Dare to Lead: Brave Work. Tough Conversations. Whole Hearts.)
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We must question the story logic of having an all-knowing, all-powerful God, who creates faulty humans and then blames them for his own mistakes."--Gene Rodenberry
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Mark Clark (Star Trek FAQ (Unofficial and Unauthorized): Everything Left to Know About the First Voyages of the Starship Enterprise)
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Though that's faulty logic because I did cry during Gandalf's death when I read Lord of the Rings for the first time, which is said to be comparable for boys to Beth's death in Little Women for girls.
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El Tomi
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Everything had been a battle of wills, an opportunity for him to lecture her, another reason for him to correct her faulty logic or lack of information.
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Stephen McCauley (My Ex-Life)
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What this all goes to show is that nonsense remains nonsense, even when talked by world-famous scientists. What serves to obscure the illogicality of such statements is the fact that they are made by scientists; and the general public, not surprisingly, assumes that they are statements of science and takes them on authority. That is why it is important to point out that they are not statements of science, and any statement, whether made by a scientist or not, should be open to logical analysis. Immense prestige and authority does not compensate for faulty logic.
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John C. Lennox (God and Stephen Hawking)
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Here’s a case where someone successfully followed their passion,” they say, “therefore ‘follow your passion’ must be good advice.” This is faulty logic. Observing a few instances of a strategy working does not make it universally effective.
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Cal Newport (So Good They Can't Ignore You: Why Skills Trump Passion in the Quest for Work You Love)
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The truth is that anxiety is at once a function of biology and philosophy, body and mind, instinct and reason, personality and culture. Even as anxiety is experienced at a spiritual and psychological level, it is scientifically measurable at the molecular level and the physiological level. It is produced by nature and it is produced by nurture. It’s a psychological phenomenon and a sociological phenomenon. In computer terms, it’s both a hardware problem (I’m wired badly) and a software problem (I run faulty logic programs that make me think anxious thoughts). The origins of a temperament are many faceted; emotional dispositions that may seem to have a simple, single source—a bad gene, say, or a childhood trauma—may not.
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Scott Stossel (My Age of Anxiety: Fear, Hope, Dread, and the Search for Peace of Mind)
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When the researchers compared whether process or analysis was more important in producing good decisions—those that increased revenues, profits, and market share—they found that “process mattered more than analysis—by a factor of six.” Often a good process led to better analysis—for instance, by ferreting out faulty logic.
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Chip Heath (Decisive: How to Make Better Choices in Life and Work)
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With a strange logic, [Rod Liddle] asserts that because ME patients deny that they have a psychiatric disorder, this proves they have a psychiatric disorder.
Meanwhile, people are quietly dying of ME. ME sufferer Emily Collingridge died, aged 30; Victoria Webster died at just 18. People don’t die from ‘exercise phobia’. ME is not ‘lethargy’ and ‘aches and pains’, as Liddle claims. Severe ME is lying in a darkened room, alone, in agonising pain, tube-fed, catheterised, too weak to move or speak.
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Tanya Marlow
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This lack of fit between logic and statistically based decision is not something that can be accounted for by finding a faulty assumption in Cohen's paradoxes. It lies at the heart of what is meant by logic.
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David Salsburg (The Lady Tasting Tea: How Statistics Revolutionized Science in the Twentieth Century)
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When you are inquiring into any subject, maintain a due regard to the arguments and objections on both sides of a question; consider, compare, and balance them well, before you determine for one side. It is a frequent, but a very faulty practice, to hunt after arguments only to make good one side of a question, and entirely to neglect and refuse those which favour the others side. If we have not given a due weight to arguments on both sides, we do but willfully misguide our judgment, and abuse our reason by forbidding its search after truth.
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Isaac Watts (Logic: The Right Use of Reason in the Inquiry After Truth)
“
Perfectionism is a self-destructive and addictive belief system that fuels this primary thought: If I look perfect, live perfectly, and do everything perfectly, I can avoid or minimize the painful feelings of shame, judgment, and blame. Perfectionism is self-destructive simply because there is no such thing as perfect. Perfection is an unattainable goal. Additionally, perfectionism is more about perception—we want to be perceived as perfect. Again, this is unattainable—there is no way to control perception, regardless of how much time and energy we spend trying. Perfectionism is addictive because when we invariably do experience shame, judgment, and blame, we often believe it’s because we weren’t perfect enough. So rather than questioning the faulty logic of perfectionism, we become even more entrenched in our quest to live, look, and do everything just right. Feeling shamed, judged, and blamed (and the fear of these feelings) are realities of the human experience. Perfectionism actually increases the odds that we’ll experience these painful emotions and often leads to self-blame: It’s my fault. I’m feeling this way because “I’m not good enough.” To
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Brené Brown (The Gifts of Imperfection: Let Go of Who You Think You're Supposed to Be and Embrace Who You Are)
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For more than two hundred years, on the topic of human population, a disturbingly vicious thread has run through Western history, basing itself on biology and justifying cruelty on an almost unimaginable scale. When I began researching this book I thought of Malthusian theory, eugenics, Nazi genocide and modern population control as separate and distinct episodes in human history. I am no longer so sure. I think there is some persuasive evidence that a direct, if meandering, intellectual thread links the Poor Laws, the Irish famine, the gas chambers of Auschwitz and the one-child policies of Beijing. In all cases, cruelty as policy, based on faulty logic, sprang from a belief that those in power knew best what was good for the vulnerable and weak.
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Matt Ridley (The Evolution of Everything: How New Ideas Emerge)
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G. Stanley Hall, a creature of his times, believed strongly that adolescence was determined – a fixed feature of human development that could be explained and accounted for in scientific fashion. To make his case, he relied on Haeckel's faulty recapitulation idea, Lombroso's faulty phrenology-inspired theories of crime, a plethora of anecdotes and one-sided interpretations of data. Given the issues, theories, standards and data-handling methods of his day, he did a superb job. But when you take away the shoddy theories, put the anecdotes in their place, and look for alternate explanations of the data, the bronze statue tumbles hard.
I have no doubt that many of the street teens of Hall's time were suffering or insufferable, but it's a serious mistake to develop a timeless, universal theory of human nature around the peculiarities of the people of one's own time and place.
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Robert Epstein (Teen 2.0: Saving Our Children and Families from the Torment of Adolescence)
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The textbooks of history prepared for the public schools are marked by a rather naive parochialism and chauvinism. There is no need to dwell on such futilities. But it must be admitted that even for the most conscientious historian abstention from judgments of value may offer certain difficulties.
As a man and as a citizen the historian takes sides in many feuds and controversies of his age. It is not easy to combine scientific aloofness in historical studies with partisanship in mundane interests. But that can and has been achieved by outstanding historians. The historian's world view may color his work. His representation of events may be interlarded with remarks that betray his feelings and wishes and divulge his party affiliation. However, the postulate of scientific history's abstention from value judgments is not infringed by occasional remarks expressing the preferences of the historian if the general purport of the study is not affected. If the writer, speaking of an inept commander of the forces of his own nation or party, says "unfortunately" the general was not equal to his task, he has not failed in his duty as a historian. The historian is free to lament the destruction of the masterpieces of Greek art provided his regret does not influence his report of the events that brought about this destruction.
The problem of Wertfreíheit must also be clearly distinguished from that of the choice of theories resorted to for the interpretation of facts. In dealing with the data available, the historian needs ali the knowledge provided by the other disciplines, by logic, mathematics, praxeology, and the natural sciences. If what these disciplines teach is insufficient or if the historian chooses an erroneous theory out of several conflicting theories held by the specialists, his effort is misled and his performance is abortive. It may be that he chose an untenable theory because he was biased and this theory best suited his party spirit. But the acceptance of a faulty doctrine may often be merely the outcome of ignorance or of the fact that it enjoys greater popularity than more correct doctrines.
The main source of dissent among historians is divergence in regard to the teachings of ali the other branches of knowledge upon which they base their presentation. To a historian of earlier days who believed in witchcraft, magic, and the devil's interference with human affairs, things hàd a different aspect than they have for an agnostic historian. The neomercantilist doctrines of the balance of payments and of the dollar shortage give an image of presentday world conditions very different from that provided by an examination of the situation from the point of view of modern subjectivist economics.
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Ludwig von Mises (Theory and History: An Interpretation of Social and Economic Evolution)
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Most of us raise our children based on our gut reactions. But how do we know whether such responses are trustworthy or just the result of bad lasagna? Actually, adult “gut reactions” are the results of childhood responses to family emotions and interactions. Therefore, “gut feel” is more valid if we had a happy childhood and presently have peaceful and rewarding relationships at home and elsewhere. On the other hand, if we react to our childhood by saying, “I sure want to do things differently with my kid than my mom and dad did with me,” then our gut reactions will probably be untrustworthy and faulty.
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Foster W. Cline (Parenting with Love and Logic: Teaching Children Responsibility)
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When the researchers compared whether process or analysis was more important in producing good decisions—those that increased revenues, profits, and market share—they found that “process mattered more than analysis—by a factor of six.” Often a good process led to better analysis—for instance, by ferreting out faulty logic. But the reverse was not true: “Superb analysis is useless unless the decision process gives it a fair hearing.
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Chip Heath (Decisive: How to Make Better Choices in Life and Work)
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The very rationalists who jeer at the trial by combat, in the old feudal ordeal, do in fact accept a trial by combat as deciding all human history. In the war of the North and South in America, some of the Southern rebels wrote on their flags the rhyme, "Conquer we must for our cause is just." The philosophy was faulty; and in that sense it served them right that their opponents copied and continued it in the form "Conquer they didn't; so their cause wasn't." But the latter logic is as bad as the former.
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G.K. Chesterton (The Blatchford Controversies and Other Essays on Religion)
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Understanding and truly accepting God's forgiveness is the incubator to a meaningful walk with Jesus. As we escape the dregs of compromise to walk in purity and obedience, we are free to grow on God's timetable if we ignore the lies of the unholy world. And only by avoiding faulty human logic can we give our lives over to the seeming risk of a God who is actually unable to be anything but faithful.
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Mark Hall (Your Own Jesus: A God Insistent on Making It Personal)
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Life-paralysis refers to all of the opportunities we miss because we’re too afraid to put anything out in the world that could be imperfect. It’s also all of the dreams that we don’t follow because of our deep fear of failing, making mistakes, and disappointing others. It’s terrifying to risk when you’re a perfectionist; your self-worth is on the line. I put these three insights together to craft a definition of perfectionism (because you know how much I love to get words wrapped around my struggles!). It’s long, but man has it helped me! It’s also the “most requested” definition on my blog. Perfectionism is a self-destructive and addictive belief system that fuels this primary thought: If I look perfect, live perfectly, and do everything perfectly, I can avoid or minimize the painful feelings of shame, judgment, and blame. Perfectionism is self-destructive simply because there is no such thing as perfect. Perfection is an unattainable goal. Additionally, perfectionism is more about perception—we want to be perceived as perfect. Again, this is unattainable—there is no way to control perception, regardless of how much time and energy we spend trying. Perfectionism is addictive because when we invariably do experience shame, judgment, and blame, we often believe it’s because we weren’t perfect enough. So rather than questioning the faulty logic of perfectionism, we become even more entrenched in our quest to live, look, and do everything just right. Feeling shamed, judged, and blamed (and the fear of these feelings) are realities of the human experience. Perfectionism actually increases the odds that we’ll experience these painful emotions and often leads to self-blame: It’s my fault. I’m feeling this way because “I’m not good enough.” To overcome perfectionism, we need to be able to acknowledge our vulnerabilities to the universal experiences of shame, judgment, and blame; develop shame resilience; and practice self-compassion. When we become more loving and compassionate with ourselves and we begin to practice shame resilience, we can embrace our imperfections. It is in the process of embracing our imperfections that we find our truest gifts: courage, compassion, and connection.
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Brené Brown (The Gifts of Imperfection: Let Go of Who You Think You're Supposed to Be and Embrace Who You Are)
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Tell you what, I'll make you a deal.'
'A deal?'
'If I do anything you don't like...' Hawke's hand slid down my thigh, causing my breath to catch. Through the dress, his hand closed over the dagger. 'I give you permission to stab me.'
'That would be excessive.'
'I was hoping you'd give me just a measly flesh wound,' he added. 'But it'd be worth finding out.'
I grinned. 'You're such a bad influence.'
'I think we've already established that only the bad can be influenced.'
'And I think I already told you that your logic is faulty.
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Jennifer L. Armentrout (From Blood and Ash (Blood and Ash, #1))
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I told Greenwald that I didn’t consider these factors when I was ten years younger and waiting for just the right guy to pop into my life. It seemed reasonable to think that the longer I searched, the better the guy I’d end up with. But it’s faulty logic, she said: The longer you wait, the less likely you are to find someone better than you’ve already met.
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Lori Gottlieb (Marry Him: The Case for Settling for Mr. Good Enough)
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To complicate matters, the human machine, with its hardware and software components, doesn’t always function as anticipated.
Our DNA, our genetic code, essentially acts like an instruction manual, working in the background to influence our behaviour alongside our occasionally faulty logic systems, making us vulnerable to emotional influence.
Annoyingly, there is no user manual to explain this.
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Philos Fablewright (Curious: A thought-provoking blend of fiction, philosophy, and humor that will touch your heart, make you laugh and leave you questioning everything.)
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How then does a Christian, or anyone else, choose among the various claims for absolute authorities? Ultimately the truthfulness of the Bible will commend itself as being far more persuasive than other religious books (such as the Book of Mormon or the Qur’an), or than any other intellectual constructions of the human mind (such as logic, human reason, sense experience, scientific methodology, etc.). It will be more persuasive because in the actual experience of life, all of these other candidates for ultimate authority are seen to be inconsistent or to have shortcomings that disqualify them, while the Bible will be seen to be fully in accord with all that we know about the world around us, about ourselves, and about God. The Bible will commend itself as being persuasive in this way, that is, if we are thinking rightly about the nature of reality, our perception of it and of ourselves, and our perception of God. The trouble is that because of sin our perception and analysis of God and creation is faulty. Sin is ultimately irrational, and sin makes us think incorrectly about God and about creation. Thus, in a world free from sin, the Bible would commend itself convincingly to all people as God’s Word. But because sin distorts people’s perception of reality, they do not recognize Scripture for what it really is. Therefore it requires the work of the Holy Spirit, overcoming the effects of sin, to enable us to be persuaded that the Bible is indeed the Word of God and that the claims it makes for itself are true. Thus, in another sense, the argument for the Bible as God’s Word and our ultimate authority is not a typical circular argument. The process of persuasion is perhaps better likened to a spiral in which increasing knowledge of Scripture and increasingly correct understanding of God and creation tend to supplement one another in a harmonious way, each tending to confirm the accuracy of the other. This is not to say that our knowledge of the world around us serves as a higher authority than Scripture, but rather that such knowledge, if it is correct knowledge, continues to give greater and greater assurance and deeper conviction that the Bible is the only truly ultimate authority and that other competing claims for ultimate authority are false.
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Wayne Grudem (Systematic Theology/Historical Theology Bundle)
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The Faulty Logic of the Masses [10w]
People who work so someday they 'won't have to work',
trade the immediacy of the 'now' for it's future possibility.
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Beryl Dov
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When the researchers compared whether process or analysis was more important in producing good decisions—those that increased revenues, profits, and market share—they found that “process mattered more than analysis—by a factor of six.” Often a good process led to better analysis—for instance, by ferreting out faulty logic. But the reverse was not true: “Superb analysis is useless unless the decision process gives it a fair hearing.” To
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Chip Heath (Decisive: How to Make Better Choices in Life and Work)
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Another possible solution to paradoxical sentences was mentioned in chapter 1, namely, human language is a product of the human mind and as such, subject to contradictions. Human language is not a perfect system that is free of discrepancies (in contrast to perfect systems like mathematics, science, logic, and the physical universe). Rather, we should simply accept the fact that human language is faulty and has contradictions. This seems reasonable to me.
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Noson S. Yanofsky (The Outer Limits of Reason: What Science, Mathematics, and Logic Cannot Tell Us)
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Muslims have regularly martyred themselves-would a Christian then agree that Islam is the "truth faith?" Since millions of so-called Pagans have been willing to die for their faith, by this faulty martyrdom logic Paganism must be the "true faith!" In the final analysis, martyrdom proves nothing, except the fervor of the believer.
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D.M. Murdock (Suns of God: Krishna, Buddha and Christ Unveiled)
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Double-binds contradict logic. My body knows and clearly tells me while my brain remains wrapped in knots trying to figure things out. Of course, when I was learning to accept double-binds as the rule of law in the group I knew none of this but my body did. It never stopped telling me that what I was learning didn’t make sense. However, the sinister, dangerous beauty of authoritarian rule is that at the same time that she was manipulating me, she was teaching me to ignore any signals from my body or mind that would contradict her position of power. The analogy I use is that gurus teach us to build a dependence on compass points outside ourselves. We become completely dependent on these external references because we are simultaneously being taught that our internal compass is faulty.
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Alexandra Amor (Cult A Love Story: Ten Years Inside a Canadian Cult and the Subsequent Long Road of Recovery)
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When something big happens, whatever it is, I understand that a person's first tendency is to freeze, to go numb and wait for something else, equally big, to come along and cancel out the first thing. Believe me, I understand. And I know that's what you're doing. But that's the mistake, don't you see? It's faulty logic. There is no second thing. At least, not externally. There is, however, action. Action is the second thing. Without action, there is only waiting for death.
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Madhuri Vijay (The Far Field)
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In short, for theoretical cognition, all truth is to be found in the external world, and for practical cognition, no truth is to be found in the external world. This stance of the will, in which the ends of the good reside within the will alone, and external actuality is, in-itself, empty of all worth of the good will, leaving 'two worlds in opposition'. What the unity of theoretical and practical standpoints allows is a reciprocity and mutual tempering of each such that cognition can be brought in relation to the external world while avoiding the extreme vices of both stances: theoretical cognition's meta-awareness of its own activity as practical prevents the self-conception in which all content of truth is found in the givenness of the object; practical cognition's reunification with theoretical cognition prevents the self-conception in which the will alone is the source of all goodness and worth. Theoretical cognition reminds the will that the contingency of the world can be made to conform with cognition's form of activity, that although it is true that there are ineliminable contingencies, this truth is something that cognition can grasp, and most importantly, it is not a fact that disables the activity of cognition in principle. Since theoretical cognition can find truth of self-certainty in the given contingency of the world - most notably, the instinct of reason finds itself in the form of inner purposiveness as such - nothing in principle prevents the will from finding the truth of self-certainty amid practical contingency, except for its faulty conception of itself. Far from a worthless nullity, the actuality confronting the will is already permeated by rational ends, 'an objective world whose inner ground and actual subsistence is the Concept'. That is, the external actuality confronting the will is always already a world shaped by the rationally realized ends of the will itself - ultimately, the world of objective spirit, and more directly, the world of ethical life. The insistence of the will that the good is a mere ought that cannot be realized is thus a misconception of both itself and its world - a misconception that theoretical cognition can help to correct. The unity of theoretical and practical cognition brings forth the absolute Idea, which, once more, returns us to the problem of life.
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Karen Ng (Hegel's Concept of Life: Self-Consciousness, Freedom, Logic)
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If all the extraterrestrials in Logicalard Fallaciod were replaced with robots, there really wouldn’t be any forms of theorization and faulty reasoning. The robots, as they wouldn’t even have any intentions and sentiments, would only be capable of scanning, computing, moving, and recharging. If the robots replaced the extraterrestrials, there wouldn’t be any inclinations or predispositions to stereotyping and using logical fallacies in theories; they wouldn’t have enough emotions and ambitions to do it!
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Lucy Carter (Logicalard Fallacoid)
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She didn’t mean anything by it,' the markhor explained like how racism is perpetuated and exonerated through faulty reasoning
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J.S. Mason (A Dragon, A Pig, and a Rabbi Walk into a Bar...and other Rambunctious Bites)
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When an emotional problem is conceptualized as internal, as a disease, as a faulty personality, or otherwise, a message is being implied that such a person is innately defective; the problems in the world, in the family, and in society are simply meaningless triggers of an individual deficit rather than the problems themselves. And, if one is a victim of such disease, then it is logical to assume they have no responsibility or control over their behaviors and must, therefore, be controlled by others. By dismissing the life circumstances underlying one’s distress and blaming them for having something internally wrong with them, society is, in effect, for many re-creating the traumatic dynamics that led to the distressing experiences in the first place. This is not hyperbole; evidence has demonstrated the traumatizing effects of mental health care for many, with some meeting full criteria for PTSD as a direct result of their treatment experiences (e.g., Mueser, Lu, Rosenberge, & Wolfe, 2010).
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Noel Hunter (Trauma and Madness in Mental Health Services)
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A leader must be keen and alert to what drives a decision, a plan of action. If it was based on good logic, sound principles, and strong belief, I felt comfortable in being unswerving in moving toward my goal. Any other reason (or reasons) for persisting were examined carefully. Among the most common faulty reasons are (1) trying to prove you are right and (2) trying to prove someone else is wrong. Of course, they amount to about the same thing and often lead to the same place: defeat.
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Bill Walsh (The Score Takes Care of Itself: My Philosophy of Leadership)
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What grammar we learn in school is often oversimplified to the point of self-contradiction. ("Verbs are action words!" they tell us "Was is a verb!" they tell us. Can you see the problem?) And so our "logical" justifications for saying things in a particular way are often based on faulty premises.
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Lynne Murphy (The Prodigal Tongue: The Love-Hate Relationship Between American and British English)
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We like things to be black or white, tall or short, here or there. We like to consider two sides to every story. Unfortunately, there aren’t always two sides. Sometimes there’s only one; more often, there are multitudes. Many facets on the stone. Nooks and crannies in abundance. Things are usually not either black or white, but multicolored. —Barry Leiba, “Faulty Logic: False Dichotomy
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Valerie Tarico (Trusting Doubt: A Former Evangelical Looks at Old Beliefs in a New Light)
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Faulty argument #1: You don’t need international stocks, because American multinational companies have a large percentage of their operations overseas. This gives you enough international exposure. To see the flaw in this logic is easy. During the five years between 2003 and 2007, the U.S. stock market earned a handsome 91
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Allan S. Roth (How a Second Grader Beats Wall Street: Golden Rules Any Investor Can Learn)
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That's where another form of faulty logic comes into action: the survivorship bias. The survivorship bias describes our tendency only to study the survivors or achievers, concluding that what they did must be the reason for their success. With this logic, we ignore those who did the same things but died or failed – we elevate coincidental or meaningless factors to crucial elements of success.
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Chris Masi (Stop Chasing Carrots: Healing Self-Help Deceptions With a Scientific Philosophy Of Life)
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And Dr. Michael Burry was dumbstruck: He recalled Asperger’s from med school, but vaguely. His wife now handed him the stack of books she had accumulated on autism and related disorders. On top were The Complete Guide to Asperger’s Syndrome, by a clinical psychologist named Tony Attwood, and Attwood’s Asperger’s Syndrome: A Guide for Parents and Professionals. “Marked impairment in the use of multiple non-verbal behaviors such as eye-to-eye gaze…” Check. “Failure to develop peer relationships…” Check. “A lack of spontaneous seeking to share enjoyment, interests, or achievements with other people…” Check. “Difficulty reading the social/emotional messages in someone’s eyes…” Check. “A faulty emotion regulation or control mechanism for expressing anger…” Check. “…One of the reasons why computers are so appealing is not only that you do not have to talk or socialize with them, but that they are logical, consistent and not prone to moods. Thus they are an ideal interest for the person with Asperger’s Syndrome…” Check. “Many people have a hobby…. The difference between the normal range and the eccentricity observed in Asperger’s Syndrome is that these pursuits are often solitary, idiosyncratic and dominate the person’s time and conversation.” Check…Check…Check. After a few pages, Michael Burry realized that he was no longer reading about his son but about himself.
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Michael Lewis (The Big Short: Inside the Doomsday Machine)
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I once had a foreign exchange trader who worked for me who was an unabashed chartist. He truly believed that all the information you needed was reflected in the past history of a currency. Now it's true there can be less to consider in trading currencies than individual equities, since at least for developed country currencies it's typically not necessary to pore over their financial statements every quarter. And in my experience, currencies do exhibit sustainable trends more reliably than, say, bonds or commodities. Imbalances caused by, for example, interest rate differentials that favor one currency over another (by making it more profitable to invest in the higher-yielding one) can persist for years. Of course, another appeal of charting can be that it provides a convenient excuse to avoid having to analyze financial statements or other fundamental data. Technical analysts take their work seriously and apply themselves to it diligently, but it's also possible for a part-time technician to do his market analysis in ten minutes over coffee and a bagel. This can create the false illusion of being a very efficient worker. The FX trader I mentioned was quite happy to engage in an experiment whereby he did the trades recommended by our in-house market technician. Both shared the same commitment to charts as an under-appreciated path to market success, a belief clearly at odds with the in-house technician's avoidance of trading any actual positions so as to provide empirical proof of his insights with trading profits. When challenged, he invariably countered that managing trading positions would challenge his objectivity, as if holding a losing position would induce him to continue recommending it in spite of the chart's contrary insight. But then, why hold a losing position if it's not what the chart said? I always found debating such tortured logic a brief but entertaining use of time when lining up to get lunch in the trader's cafeteria. To the surprise of my FX trader if not to me, the technical analysis trading account was unprofitable. In explaining the result, my Kool-Aid drinking trader even accepted partial responsibility for at times misinterpreting the very information he was analyzing. It was along the lines of that he ought to have recognized the type of pattern that was evolving but stupidly interpreted the wrong shape. It was almost as if the results were not the result of the faulty religion but of the less than completely faithful practice of one of its adherents. So what use to a profit-oriented trading room is a fully committed chartist who can't be trusted even to follow the charts? At this stage I must confess that we had found ourselves in this position as a last-ditch effort on my part to salvage some profitability out of a trader I'd hired who had to this point been consistently losing money. His own market views expressed in the form of trading positions had been singularly unprofitable, so all that remained was to see how he did with somebody else's views. The experiment wasn't just intended to provide a “live ammunition” record of our in-house technician's market insights, it was my last best effort to prove that my recent hiring decision hadn't been a bad one. Sadly, his failure confirmed my earlier one and I had to fire him. All was not lost though, because he was able to transfer his unsuccessful experience as a proprietary trader into a new business advising clients on their hedge fund investments.
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Simon A. Lack (Wall Street Potholes: Insights from Top Money Managers on Avoiding Dangerous Products)