A General Overview of the Human Species
It goes without saying that human species otherwise known as ‘Homo sapiens’ is the most intelligent, smart and multi-talented more than any other species in the globe. In addition to being smart, the human species is also an extremely vain species. People like justifying their mistakes and strive to proof their arguments in an effort of exploring their intelligence. Though they are smart, humans are incredibly dumb when it comes to decision making. To prove this fact, humans tend to misappropriate resources when it comes to making investment decisions. This has been the sole reason why thefinancial markets have always collapsed! The bottom line is, though humans make mistakes, the sad thing is that they keep repeating the same mistakes over and over again.
According to social scientists, when put in certain contexts, humans make specific and predictable mistakes viciously. Most of these mistakes lack justification and when man obtains a negative feedback, he tends to repeat the same mistakes. The greatest question of all time is; as intelligent as man is, why is it that he keeps on making the same grievous mistakes over and over again?To answer this question, it is important to interrogate ourselves. First, what are mistakes and why do we make mistakes? Where do mistakes originate from? Come to think of it, probably it is not our fault, right? To avoid making mistakes, humans should probably consider eliminating technologies and sophistications that aren’t handle able and instead develop new ones. Well, that’s just one of the possibility. The other possibility may be the fact that humans beings are awfully designed to keep on making errors and over and over again!
To draw the line between these two possibilities, probably we should consider primates such as the brown capuchin monkey. To establish how wise primates are and whether they make mistakes repeatedly as humans, let us consider the monkey’s economic decisions. Consequently, Laurie Santosembarked on teaching the monkeys at Yale on how to actually use money in purchasing items.In the experiment, monkeys entered the market, spent their entire budget and went back. Noticeably enough, they did not save and they also had spontaneous evidence of larceny. They ripped off tokens at every available opportunity. To see if the monkeys made the same mistakes repeatedly, economic experiments involving risky and safe situations were carried out.
Just like man, monkeys in the experimentchose the same options as people and acted irrationally implying that they also acted different in loss and gain situations. People are risk-averse and prefer safe-options. One thing that is clear is the fact that humans think in absolute terms and not relatively terms. From my experience and interaction with people, humans hate it when things go wrong. In this case, man tends to switch preferences inorder to avoid losses! When stock investors sense losses, they hold onto the stocks much longer and evaluate them in relative terms. When people are selling houses, they hoard on them since inorder to avoid selling them at loss. Thus, it is plausible to conclude that human mistakes are natural and dating back from the evolutionary history. I also think that we are also not only rigid but also freak out when handling situations. In this digital world, we are used to doing things so fast in the sense that we fail to consider the implications first! Though we are creative, we tend to ignore lots of facts and that is the reason why man keeps on repeating the same mistakes over and over again!
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