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Welcome to a special coronavirus edition of MFM, the only weekly newsletter that refuses to cancel its flights and believes eating fruits and vegetables is more useful than wearing a face mask. Each week, this newsletter breaks down three ideas that usually revolve around social psychology, cognitive biases, and some light philosophy.
This week, I’d like to use coronavirus as a case study to talk about the difference between systemic risk and individual risk, why some people are way more worried about this than others, and what sorts of cognitive biases are influencing us all.
So get your hand sanitizer ready. This is going to be a long one.
1. The Real Reason to Stay Home - A few weeks ago, when I wrote about coronavirus, I made two predictions given the data. First, this thing is going to spread across the planet and it’s probably inevitable that most of us get it at some point. Second, that it’s probably way less deadly than the numbers coming out of China originally made it appear.
Both of these ideas seem more and more likely to be true with each passing week. China was underprepared when the outbreak occurred and has since taken …
Hey, sorry to interrupt…
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