Added by maruli marulaki on September 8, 2012 at 2:56pm — No Comments
The naturalist understanding of morality asserts that we have evolved empathy as an impetus to cooperation. Combined with personal experience, empathy leads most of us to a "Golden Rule" sense of morality. From experience, I know what hurts me: with empathy, I know the same things likely hurt you too. Experience and empathy is all we need to decide most moral matters. "Do unto…Continue
I recognized this concept long before I knew what it was called. A sunk cost is actually a kind of logical fallacy. Simply stated, the cost of a thing does not dictate the value of a thing.
Consider an example. I am a millionaire and have invested $20 million to build a power plant. At this juncture, it will cost another $10 million to complete. However, during the time we've spent building the current facility, new and more cost effective designs have been developed such that it…Continue