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Armed with the method, Knight proceeds to tackle several important problems in economics, especially dealing with the theoretical construct of "perfect competition." By always keeping his head firmly within the empirically real, Knight is able to bring a great deal of sound judgment to a number of issues. Knight had a keen sense of human nature and how human beings behave in the real world of fact. He knew that most economists had made men out to be far more rational than they really were. Businesses, he argued, did not merely seek to meet the needs of the consumers; no, they sought to create new needs through innovation, advertising, and even a sort of manipulative hypnotism. In this, Knight argued, we find both progress and abuse, civilization and fraud. Knight also brings a good deal of sense to the problem of interest, demonstrating the psychological inadequacy of all time-preference theories of interest. But Knight's most important contribution consists in his analysis of the difference between risk and uncertainty. Risk, Knight argues, is a measurable probability that something could happen, like the probability that an individual will be struck by lightening or hit by a car. Uncertainty is a kind of immeasurable risk--e.g., predicting short term flucations in exchange rates. Knight's analysis is crucial to understanding economic reality. Knight's distinction between risk and uncertainty, for instance, explains why the rise of derivative securities in financial markets is so dangerous. Derivatives attempt to insure uncertainty, which is immeasurable, as if it were risk (which is measurable).
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Hertle dives into this youth, Jason's, feelings and insights melding the character's chat room conversation, game play, creative writing and unorganized banter in his mind. As the reader journies through tese pages, they are taken into a new understanding of exactly what a young person goes through in a typical dxay.
Every other chapter is Jason's work of fiction. This, combined with poetry exerpts, futher enable readers to make more discoveries about his psychie. Those discoveries prompt the hunger for more understanding of the "what" and "why's" chronicles in each subsequant chapter.
This book was more graphic than I expected for a book about such a young man. I couldn't help wondering, "Is this the way fourteen year old boys were when I was that age?"