No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Friday, July 3, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Economy

The Virtue of Dissent and Conversation

by TheAdviserMagazine
10 months ago
in Economy
Reading Time: 2 mins read
A A
The Virtue of Dissent and Conversation
Share on FacebookShare on TwitterShare on LInkedIn


I have written a lot on dissent and how it serves in the truth-finding process (for selections, see my blog posts here and here, and some of my academic articles like the award-winning “Cascading Expert Failure” and “Expert Failure and Pandemics: On Adapting to Life with Pandemics,” coauthored with Abigail Devereaux of Wichita State University, Nathan Goodman of the Mercatus Center, and Roger Koppl of Syracuse University).  Indeed, I believe dissent is so important, I teach it in my classes.  I actively encourage my students to find information and challenge me.  Being able to question is vital to revealing more information and for both the expert and nonexpert to achieve their goals.

Of course, dissent forces each party to shore up their arguments and reveal more information.  But dissent is also vital because it reveals the knowledge each party has.  Nelson and Winter discuss this effect in their 1982 book An Evolutionary Theory of Change.  Parties must make assumptions and those assumptions may not even be known to them.

For example, a forecast of commodity prices requires assumptions about the major factors affecting supply and demand, expected weather conditions, the likelihood of major tail events, and so on. Additionally, since models are generalizations of observed phenomena, even the choice of models entails assumptions about conditions, margins the actors can adjust along, and the like. Dissent and the conversation it spurs help reveal these assumptions, as well as any potential biases the experts may have; we are all human, after all. Additionally, questions from the nonexpert can reveal what information the nonexpert values, which in turn helps shape the expert advice. Given much information is tacit, the dialogue between expert and nonexpert can reveal additional information to both parties as well as shape the interpretative frameworks of both expert and nonexpert.

Democracy, at least in any reasonable sense of the term, is built on the idea of dissent and conversation: citizens discuss and dissent with each other.  Conversations and debate happen.  The expert in a democracy, therefore, must serve a similar role: as dissenter to and converser with the nonexpert (and to each other).  The expert’s ethical duty is to serve this role, not be a Yes-Man who simply acts at the behest of the nonexpert.  Dissenting may cause the nonexpert to reevaluate their desires, hopefully in a direction that is actually toward the nonexpert’s true goals.

To that end, I propose a broader version of the Hippocratic Oath geared toward experts in general: the expert shall help, or at least do no harm.  That will often involve telling the nonexpert what they don’t want to hear.  But that conversation may ultimately lead to better outcomes.

 

As an Amazon Associate, Econlib earns from qualifying purchases.



Source link

Tags: ConversationdissentVirtue
ShareTweetShare
Previous Post

How the Rich Persuade Others to Help Them Realize Their Dreams and Build Their Wealth

Next Post

Cracker Barrel foe urges shareholders to vote against ‘worse than mediocre’ CEO after disma

Related Posts

edit post
Links 7/3/2026 | naked capitalism

Links 7/3/2026 | naked capitalism

by TheAdviserMagazine
July 3, 2026
0

Artificial cell manages a few rounds of cell division Ars Technica NYC hotel evacuated after bear spray released inside, NYPD...

edit post
Tracing Jefferson’s Libertarian Thought in the Declaration of Independence

Tracing Jefferson’s Libertarian Thought in the Declaration of Independence

by TheAdviserMagazine
July 3, 2026
0

The period from 1765 to 1776 witnessed escalating political, constitutional, and military tensions between Great Britain and the American colonies....

edit post
Freddy the World Cup Tourist and Tocqueville’s Hopes for America

Freddy the World Cup Tourist and Tocqueville’s Hopes for America

by TheAdviserMagazine
July 3, 2026
0

In the 1830s, a French aristocrat named Alexis de Tocqueville traveled through the United States and returned home with Democracy...

edit post
Finland: Landing A Summer Retail Job Is Now Harder Than Getting Into Medical School

Finland: Landing A Summer Retail Job Is Now Harder Than Getting Into Medical School

by TheAdviserMagazine
July 3, 2026
0

Finland has become another example of what happens when ideology overtakes economic reality. According to a recent report, Finland’s construction...

edit post
Market Talk – July 2, 2026

Market Talk – July 2, 2026

by TheAdviserMagazine
July 2, 2026
0

ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 1,741.81 points or -2.47% to...

edit post
Job seekers giving up: Labor force participation rate falls to lowest in 50 years, outside of Covid era

Job seekers giving up: Labor force participation rate falls to lowest in 50 years, outside of Covid era

by TheAdviserMagazine
July 2, 2026
0

A now hiring sign is posted in the window of a Chipotle restaurant on June 5, 2026 in Los Angeles,...

Next Post
edit post
Cracker Barrel foe urges shareholders to vote against ‘worse than mediocre’ CEO after disma

Cracker Barrel foe urges shareholders to vote against ‘worse than mediocre’ CEO after disma

edit post
Five days in the office again? Here’s how it could impact your budget

Five days in the office again? Here’s how it could impact your budget

  • Trending
  • Comments
  • Latest
edit post
Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

June 22, 2026
edit post
New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

June 20, 2026
edit post
5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

June 18, 2026
edit post
Florida Roads Become a Battleground for Illegal Immigration

Florida Roads Become a Battleground for Illegal Immigration

June 9, 2026
edit post
Same Portfolio. Same Retirement. A 10-Mile Move Costs One Couple ,000 A Year

Same Portfolio. Same Retirement. A 10-Mile Move Costs One Couple $10,000 A Year

June 27, 2026
edit post
Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

June 15, 2026
edit post
The Next Independence Movement Has Already Begun

The Next Independence Movement Has Already Begun

0
edit post
‘It’s just his AI and my AI going back and forth’: how ‘social offloading’ erodes work relationships

‘It’s just his AI and my AI going back and forth’: how ‘social offloading’ erodes work relationships

0
edit post
Binance Faces £150M UK Lawsuit From 1,692 Retail Derivatives Traders

Binance Faces £150M UK Lawsuit From 1,692 Retail Derivatives Traders

0
edit post
Boston’s ,000 Property Tax Break: Who Qualifies After Age 65?

Boston’s $1,000 Property Tax Break: Who Qualifies After Age 65?

0
edit post
The Rise of the “Claude Cowboy” in RevOps The Rise of the Claude Cowboy: How AI Is Reshaping RevOps

The Rise of the “Claude Cowboy” in RevOps The Rise of the Claude Cowboy: How AI Is Reshaping RevOps

0
edit post
Weekend Reading For Financial Planners (July 4–5)

Weekend Reading For Financial Planners (July 4–5)

0
edit post
Boston’s ,000 Property Tax Break: Who Qualifies After Age 65?

Boston’s $1,000 Property Tax Break: Who Qualifies After Age 65?

July 3, 2026
edit post
Weekend Reading For Financial Planners (July 4–5)

Weekend Reading For Financial Planners (July 4–5)

July 3, 2026
edit post
Friday File: Halfway Through! – Stock GumshoeStock Gumshoe

Friday File: Halfway Through! – Stock GumshoeStock Gumshoe

July 3, 2026
edit post
The Next Independence Movement Has Already Begun

The Next Independence Movement Has Already Begun

July 3, 2026
edit post
The Left Tries to Paint America 250 in the Blues

The Left Tries to Paint America 250 in the Blues

July 3, 2026
edit post
Fiserv, service station operators including BP warn US stores on illegal vapes

Fiserv, service station operators including BP warn US stores on illegal vapes

July 3, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Boston’s $1,000 Property Tax Break: Who Qualifies After Age 65?
  • Weekend Reading For Financial Planners (July 4–5)
  • Friday File: Halfway Through! – Stock GumshoeStock Gumshoe
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.