This insight is part of the basis of "prospect theory, " one branch of behavioral economics.
This is the basis of the Balassa-Samuelson theory which holds that average prices will be higher in countries with higher productivity (ie, high GDP per head), because higher wages will push up prices in labour-intensive goods and services.
ECONOMIST: Economics focus: Burger-thy-neighbour policies | The
She does not decide cases on the basis of high or fancy theory - though she's smart enough to do any of that - but she just decides a case before her on the basis of what makes sense in that case.
Laws that distinguish between individuals on the basis of race are (at least in theory) almost impossible to justify, because the Supreme Court has held that they are subject to "strict scrutiny, " the most forbidding standard of review.
The State assumes the right of eminent domain over its territorial basis, where by every landholder becomes in theory a tenant of the State.
Describing the Civil Rights Movement without mentioning Jim Crow is like writing about the atrocities committed by the German army in the Second World War and not mentioning Nazi race theory: it leaves out the primary ideological basis of the injustice being described.
FORBES: The Anti-Putin Opposition and the US Civil Rights Movement
Although this must give some badge of quality to the concept of executive coaching it does also raise the worry that its real basis is academic theory rather than hard, practical ideas that can be used in the day-to-day workplace.
FORBES: Executive coaching - another set of clothes for the Emperor?
In a scathing report, he concluded that investigators in the Willingham case had no scientific basis for claiming that the fire was arson, ignored evidence that contradicted their theory, had no comprehension of flashover and fire dynamics, relied on discredited folklore, and failed to eliminate potential accidental or alternative causes of the fire.
Maybe all of the elements of this story just coincidentally fit together in a way to create a terrific conspiracy theory that has no basis in reality.
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