The Magic of Principles

Without principles, life is a never-ending series of increasingly complex and exhausting decisions. If we do not recognize the categorical patterns common to our failures and successes, we necessarily lack the raw materials needed to construct a calibrated and effective strategy for future action.

If we do not recognize the categorical patterns common to our failures and successes, we necessarily lack the raw materials needed to construct a calibrated and effective strategy for future action.

In many cases, our time would be better spent in first extracting the lessons from the problems in our lives, before endeavoring to devise a solution. Before analyzing the origins and probable duration of a problem, finding a tenable solution is nearly impossible.

The mistake we make multiple times is like a thread waiting to be pulled, by which we can uncover uncomfortable but infinitely helpful defects in our own personalities. We can only hedge against our own bad habits and biases if those biases have been identified, and systems put in place to compensate for them.

It isn’t easy to study our personal histories with the critical and impersonal objectivity, but it is possible to a great degree, as evidenced by the many people who have overcome their worst tendencies and achieved incredible, almost unbelievable results.

To study your personal failures as economists analyze the Great Depression or military leaders dissect Napolean at Waterloo is at least as useful as it is difficult.