Inflation wave extends to e-commerce: Adobe
After years of reliably falling prices, e-commerce goods are becoming more costly amid the upheaval of the COVID-19 pandemic, said a report released Thursday by Adobe.
Nov 18, 2021
0
9
After years of reliably falling prices, e-commerce goods are becoming more costly amid the upheaval of the COVID-19 pandemic, said a report released Thursday by Adobe.
Nov 18, 2021
0
9
US antitrust enforcers have asked a federal court for extra time in refiling a monopoly abuse case against Facebook which could roll back its acquisition of Instagram and WhatsApp, but was thrown out last month.
Jul 26, 2021
0
4
Tesla founder Elon Musk on Thursday mocked securities regulators and short-sellers in series of tweets as the tech entrepreneur celebrated his firm's rise as the world's most valuable carmaker.
Jul 3, 2020
2
5
Analysis by researchers at the University of Waterloo using artificial intelligence (AI) supports the conventional wisdom that taking care of yourself makes you feel good.
Feb 20, 2020
1
6
If you ever find yourself looking forward to a holiday because you'll be able to switch off your smartphone then perhaps you're suffering from social media "technostress". The constant stream of messages, updates and content ...
Sep 3, 2019
0
3
In a new study published in Engineering, Wu Jiangxing's research team unveils a theoretical framework that could revolutionize the landscape of network systems and architectures.
Apr 26, 2024
0
43
Soaring energy costs are a major factor in Australia's cost-of-living crisis. The conventional wisdom is people will reduce their energy use in response to rising prices—and this may be the case for the most vulnerable ...
Feb 15, 2023
0
11
Sometimes, software is just like us. It can be bloated, slow, and messy. Humans might see a doctor if these symptoms persist (maybe not for messiness), but rarely do we push a flawed software program to go see its developer ...
Dec 1, 2021
0
20
Tesla founder Elon Musk is ruthlessly mocking the carmaker's doubters who sell the company short by selling short shorts with the company logo.
Jul 6, 2020
0
7
Conventional wisdom (CW) is a term used to describe ideas or explanations that are generally accepted as true by the public or by experts in a field. The term implies that the ideas or explanations, though widely held, are unexamined and, hence, may be reevaluated upon further examination or as events unfold.
The term is often credited to the economist John Kenneth Galbraith, who used it in his 1958 book The Affluent Society:
It will be convenient to have a name for the ideas which are esteemed at any time for their acceptability, and it should be a term that emphasizes this predictability. I shall refer to these ideas henceforth as the conventional wisdom.
The term in actuality is much older and dates at least to 1838. "Conventional wisdom" was used in a number of other works prior to Galbraith, occasionally in a positive or neutral sense, but more often pejoratively.
Conventional wisdom is not necessarily true. Conventional wisdom is additionally often seen as an obstacle to introducing new theories, explanations, and so as an obstacle that must be overcome by such revisionism. This is to say, that despite new information to the contrary, conventional wisdom has a property analogous to inertia that opposes the introduction of contrary belief, sometimes to the point of absurd denial of the new information set by persons strongly holding an outdated (conventional wisdom) view. This inertia is due to conventional wisdom being made of ideas that are convenient, appealing and deeply assumed by the public, who hangs on to them even as they grow outdated. The unavoidable outcome is these ideas will eventually not match reality at all, so conventional wisdom will be violently shaken until it doesn't conflict reality so blatantly.
The concept of conventional wisdom also is applied or implied in political senses, often related closely with the phenomenon of talking points. It is used pejoratively to refer to the idea that statements which are repeated over and over become conventional wisdom regardless of whether or not they are true.
In a more general sense, it is used to refer to the accepted truth about something which nearly no-one would argue about, and so is used as a gauge (or well-spring) of normative behavior or belief, even within a professional context. One such example was conventional wisdom in 1960, even among most doctors, dictated that smoking was not particularly harmful to one's health.[citation needed] Another: It might be used in this manner discussing a technical matter such as the conventional wisdom was that a man would suffer fatal injuries if he experienced more than eighteen g-forces in an aerospace vehicle. (John Stapp shattered that myth by repeatedly withstanding far more in his research—peaking above 46 Gs).
Conventional wisdom may itself be the subject of legends. For example, it is widely believed that conventional wisdom prior to Christopher Columbus held that the world was flat, when in actuality scholars had long accepted that the earth is a sphere.
When conventional wisdoms are overthrown, outranked, or outflanked by new ideas, and the new conventional wisdom becomes established in place of the previous one, there may yet be considerable remaining affiliation to the previous regime.
This text uses material from Wikipedia, licensed under CC BY-SA