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Effectuation is a logic used by expert entrepreneurs to solve problems in highly uncertain market environments. Entrepreneurs can learn to think and act effectually, thereby increasing their ability to create successful ventures.

Effectuation is a logic used by expert entrepreneurs to solve problems in highly uncertain market environments. Entrepreneurs can learn to think and act effectually, thereby increasing their ability to create successful ventures.

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Thanks Matthew. I think your description of the economy gives too much credit to capital, organizations and markets compared to how they operate in reality. Economics theory sounds good in textbooks but the reality is much messier (Imperfect information, Non homogenous buyers/sellers, Asymmetry of power, Governement intervention/regulation, ...). Economic decisions are after all made by humans who are often far less than logical than the hyper rationale "homo economicus" – myself included!

Many of these economic ideas were conceived in a time of scarcity (Land, Labour, Capital). We should be living in a time of abundance. It is the biggest failure of the human race that we live amongst poverty, extreme inequality... and worse.

I actually hope to see a move towards more freelancing, entrepreneurship and self-employment. People should be rewarded for their productive output as decided by a market of individuals not by firms and corporations. Imagine a true "free market" economy not one controlled by entrenched corporate interests and political influence.

Do people really need "jobs" or do they need a source of income with which to pay for their basic cost of living and afford themselves some luxury?

It's a strange state of affairs where "success" in many professions currently means working long hours, paying for others to take care of your children, high rates of divorce and depression.

Thanks for the tip Meena. I personally worked part-time for my startup, a bank and on my PhD until we could afford to pay a salary. Now I'm full-time. Yet I'm doubtful productivity is 1:1 with time commitment and ideally people should be paid to be productive not purely for time they work.

Some startups e.g., Treehouse [http://teamtreehouse.com/] actively encourage a 4 day work week and it seems to be working fine. I would argue even gives them an edge in hiring talent. I like the founder Ryan Carson's point of view: "We work a 4-day week (M-Th, 9-6) because we think that information work isn’t like manufacturing. Another hour at the MacBook won’t yield another $1,000 in profit." [3]

3. The Naive Optimist – http://ryancarson.com/post/21708810513/4-day-week

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Thomas commented on Smiles, Googliness, and WARP: Human Talent Analytics

Interesting. In sports there is a rich amount of statistics and data on player performance and physique. Also as @Aditya suggests "performance" is much more well defined. Wonder what data Google uses to calculate "Googliness" is it collected during the application and interview process or via other sources? Maybe search queries?!