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# The Boiling Frog

Reflections on the intersection of economics, history, politics, psychology and science

## Sitemaps

- [XML Sitemap](https://www.theboilingfrog.net/sitemap.xml): Contains all public & indexable URLs for this website.

## Posts

- [Readers, Not Algorithms, Are the Issue](https://www.theboilingfrog.net/2023/06/10/readers-not-algorithms-are-the-issue/) - A recent article in Nature reported on the results of the first (so far as I know) research into how search algorithms might encourage/promote partisanship. Turns out readers, not algorithms, are the issue. Readers, Not Algorithms, Are the Issue
- [The Community Is Critical](https://www.theboilingfrog.net/2023/06/10/the-community-is-critical/) - There was an interesting op ed in the journal Science recently, talking about how, even in something as objective as the pursuit of scientific insights, you need a high-functioning community. The common image that truth is found when a single individual (usually a guy) in a white coat shouts "Eureka!" is flat out wrong. It
- [Honoring MLK](https://www.theboilingfrog.net/2023/01/17/honoring-mlk/) - I'm embarrassed to admit that, like I suspect many White Americans, when I think about "Martin Luther King" and "speeches" I only come up with one: "I Have a Dream". Granted, it is great, because it's beautiful, intense, emotional and thought-provoking. But it's not the only thing he ever delivered deserving of recognition. Jamelle Bouie,
- [30: Gasleaping](https://www.theboilingfrog.net/2026/02/13/30-gasleaping/) - Ever wonder why the Trump administration keeps repeating debunked claims? Or why it regularly denies objective evidence, and encourages everyone else to do the same? Welcome to the wonderful world of gaslighting! Tune in to the latest from your favorite amphibians to learn more! This podcast is a bit lighter than other episodes but uses
- [29: Ribbiting Disparities](https://www.theboilingfrog.net/2025/09/23/29-ribbiting-disparities/) - This podcast explores the notion of income inequality. Although it’s an oft-discussed subject, it’s not always defined well or only discussed in the narrow band of the moral arguments against it. This discussion is meant to go deeper, including examining both the positive and negative aspects of inequality and its role in an economic system.
- [28: Frognosis](https://www.theboilingfrog.net/2025/06/03/28-frognosis/) - This episode examines the political debates around public health and public health policy. It is a perfect case study to illustrate so many of the principles covered in earlier podcasts, such as capitalism, externalities, risk, paranoia, and the dumbing down of America. Public health policy is a particularly odd political topic, because in a completely
- [27: Trade Wart](https://www.theboilingfrog.net/2025/02/14/27-trade-wart/) - Welcome to The Boiling Frog reboot! The first 26 episodes were examinations of general topics, such as understanding capitalism, how social psychology belies the principles of capitalism, and how this all shapes political dialog. The new podcasts will look at specific policies of the new administration and use those as case studies to illustrate the
- [26: Jimmy Hoppa](https://www.theboilingfrog.net/2023/04/17/26-jimmy-hoppa/) - This podcast is all about labor unions – why they exist, their history in the U.S., a brief comparison with unions in other countries, the pros and cons of unions, and the larger political implications of their existence. This is a controversial topic in U.S. politics, with many voters (and most elected officials) falling squarely
- [25: Jump for Joy](https://www.theboilingfrog.net/2023/02/17/25-jump-for-joy/) - Building off the prior podcast on learning from the past, this discussion is all about success and failure. We all know the common wisdom that we all learn more from failure than from success, but of course we don’t strive to fail all of the time! Defining success and failure is not as simple as
- [24: The Toad Not Taken](https://www.theboilingfrog.net/2022/12/31/24-the-toad-not-taken/) - We all spend a lot of time thinking about the past, often when we're trying to make a decision in the present. Sometimes that reflection ends up complicating our decision-making. Why is that? And if we want to avoid repeating past mistakes while also not
- [23: Polliwog Polymath](https://www.theboilingfrog.net/2022/12/11/23-polliwog-polymath/) - What makes someone an expert? And how is expertise different from intelligence? This podcast is all about expertise, how we acquire it, how do people view others’ expertise, and the notion of expertise transference from one domain to another. We touch on
- [22: It’s Not Easy Paying Green](https://www.theboilingfrog.net/2022/12/02/22-its-not-easy-paying-green/) - This podcast is the sequel to Greenbacks, where we discussed why we have taxes, the different types of taxes, and the pros and cons of each type. In this podcast, we delve into the evolution of the tax system and look at the debates surrounding the level
- [21: Greenbacks](https://www.theboilingfrog.net/2022/11/21/21-greenbacks/) - “In this world nothing can be said to be certain, except death and taxes.” Benjamin Franklin This podcast is the first in a two-part series on taxes. This episode is meant to be an overview of why we have taxes, the landscape of both taxing agencies a
- [20: Hops and Dreams](https://www.theboilingfrog.net/2022/10/29/20-hops-and-dreams/) - For the tenth episode, your favorite pond dwellers decided to take a break from the normal, big-picture, topic-based discussions and instead shared their personal pet peeves, including both important as well as some silly issues. This twentieth episode
- [Prisoner Voting Rights](https://www.theboilingfrog.net/2022/10/28/prisoner-voting-rights/) - One of our listeners contacted us to comment on our recent podcast, Toad to the White House, where we discussed, among other things, why both current convicts and former convicts have limited or nonexistent voting rights. It was correctly noted that we omitted a key point in that discussion -- the fact that our justice
- [Dramatic Statement of the Obvious, Redux](https://www.theboilingfrog.net/2022/10/27/dramatic-statement-of-the-obvious-redux/) - An article today in the New York Times tell us what we already knew would happen (certainly to listeners of The Boiling Frog, and specifically those who listened to the Jumping to Conclusions episode). Referring to the state of Texas, the subtitle of the article states, "A new law allowing people to carry handguns without
- ["Originalism" and Voting Rights](https://www.theboilingfrog.net/2022/10/25/originalism-and-voting-rights/) - After recording our 19th podcast (The Toad to the White House) on voting rights a friend with far more knowledge of the Constitution than me taught me about the 15th Amendment. This provision grew out of the US Civil War and the effort immediately after that conflict to both forbid slavery and enshrine the ability
- [19: Toad to the White House](https://www.theboilingfrog.net/2022/10/15/19-toad-to-the-white-house/) - This episode is a deep dive into the foundational requirement of a democracy – having elections and voting. Despite the founding (and often touted) principles of American democracy, it is shockingly inconsistent how we implement it. All U.S. citizens do n
- [18: Waste, Frog and Abuse](https://www.theboilingfrog.net/2022/09/29/18-waste-frog-and-abuse/) - It’s a fairly common trope – and often an overused campaign line – that government is “wasteful.” But what does it mean to be “wasteful” (or “efficient” for that matter), and is it true that governments aren’t good stewards of our money? As you can imagin
- [17: Leap of Faith](https://www.theboilingfrog.net/2022/09/11/17-leap-of-faith/) - The intersection of religion and politics, particularly in the U.S., has presented a series of issues and challenges. Starting with a very brief overview of the origin and history of religion, and how it has impacted human societies, we then dive into how
- [12: Warts and All](https://www.theboilingfrog.net/2022/06/14/12-warts-and-all/) - While serving as locally elected officials, we’d hear all the time from residents asking us why government didn’t act more like a business. After all, isn’t it capitalism that made this country great, so why doesn’t government operate in the same way? Thi
- [16: Frogs and Prayers](https://www.theboilingfrog.net/2022/08/28/16-frogs-and-prayers/) - In our current political climate, it seems like both policymakers and ordinary citizens are prone to use a label for something that sounds intelligent or interesting on the surface, but often masks a lack of substance or critical thinking. This matters mo
- [15: A Frog by Any Other Name](https://www.theboilingfrog.net/2022/08/05/15-a-frog-by-any-other-name/) - It seems like every public facility – whether it be a building, bridge, airport, school, or park – is named after someone. Naming public things is so common, so accepted as a practice, that we don’t even think about why we do it, let alone debate whether
- [Keeping the American Experiment Alive](https://www.theboilingfrog.net/2022/07/01/keeping-the-american-experiment-alive/) - This is an op ed Mark wrote which was published in the San Mateo Daily Journal on July 1, 2022. This Independence Day comes at a disturbing time, with rights being trampled so that personal privileges can be maintained. Underpay people, denying them a decent life while enriching yourself. Require everyone to risk slaughter by
- [14: Croak and Dagger](https://www.theboilingfrog.net/2022/06/30/14-croak-and-dagger/) - This podcast focuses on paranoia, particularly its delusional form – why it exists, why it seems to be becoming a more common affliction, the dangers it poses, and what we can do about it. Paranoia is thinking and feeling like you are being threatened
- [13: I Croak Therefore I Am](https://www.theboilingfrog.net/2022/06/21/13-i-croak-therefore-i-am/) - In 2011, then presidential candidate Mitt Romney famously remarked “corporations are people, my friend” when confronted by hecklers at the Iowa State Fair. He was mocked and derided in many circles for this comment, which seemed to represent a politician
- [Nehemiah Scudder](https://www.theboilingfrog.net/2022/05/28/nehemiah-scudder/) - One of us (Mark) is a life-long consumer of science fiction. And, growing up in the 1960s, you can't be into that genre without knowing more than a little about Robert Heinlein, who published from the early 1940s through the late 1980s. Heinlein delighted in sparking controversy...which is why he has been considered a towering
- [11: Brain Frog](https://www.theboilingfrog.net/2022/05/27/11-brain-frog/) - It feels like America has gotten dumber over the last few decades. Is that indeed true, and if so, why? As that is a bit vague and pejorative, the podcast looks at more specific issues, including ignorance, intellectual stubbornness, and lack of critical
- [10: Toad You So](https://www.theboilingfrog.net/2022/05/06/10-toad-you-so/) - For this tenth episode, Seth and Mark decided to have a little fun and stray from the modus operandi of the first nine episodes of The Boiling Frog. Just for fun, our hosts make this episode a series of diatribes, fulfilling the expectations of Seth’s wif
- [9: Froggy Skies](https://www.theboilingfrog.net/2022/04/15/9-froggy-skies/) - Risk is a concept not well understood by many people, particularly in a financial context. In this podcast we explore what it means in depth, why it is often a balancing factor for rewards, and how a better understanding of risk and reward can lead to bet
- [Hindsight Bias is Everywhere](https://www.theboilingfrog.net/2022/04/13/hindsight-bias-is-everywhere/) - I recently ran into a great example of how pervasive hindsight bias is that I wanted to share. It appeared in some comments to an op ed I wrote which was published in the San Mateo Daily Journal, one of our local papers. My article argued the San Carlos City Council, on which I used
- [Red, White, & True - part deux](https://www.theboilingfrog.net/2022/04/05/red-white-true-part-deux/) - The Red, White, & True podcast just published part two if the interview that the host, Chesney Evert, had with the two of us. This second part of our discussion is Episode 8 of her podcast where we talked about how the two us debate issues internally, our conflicts with other local officials, and the
- [Dramatic Statement of the Obvious](https://www.theboilingfrog.net/2022/04/05/dramatic-statement-of-the-obvious/) - This will come as no surprise to listeners of The Boiling Frog podcast (especially those who listened to Jumping to Conclusions), but this Stanford University study is yet another in a never ending list of research that confirms that we are not protected by owning a gun -- quite the opposite. As the first line
- [8: Toadtalitarian](https://www.theboilingfrog.net/2022/04/02/8-toadtalitarian/) - A follow up from The Changing Lily Pad, this podcast explores why corruption exists, where it comes from and why it appears that there is more corruption in people and organizations that are conservative.
- [7: Toad Rage](https://www.theboilingfrog.net/2022/03/23/7-toad-rage/) - “Wokeness” and “Cancel Culture” are popular terms in our modern political and social parlance, but what do they actually mean? How should we think about the concept of “canceling” – is it behavior gone too far, or is it just about accountability?
- [6: Jumping to Conclusions](https://www.theboilingfrog.net/2022/02/24/6-jumping-to-conclusions/) - How Hindsight Bias is not just an academic concept, but rather a critical flaw in human’s ability to think critically and avoid logical fallacies, particularly in issues of crime and gun rights.
- [5: The Amphibian's Dilemma](https://www.theboilingfrog.net/2022/02/19/5-the-amphibians-dilemma/) - How a very simple concept in game theory – the Prisoner’s Dilemma – is omnipresent in our economic lives and in almost all social interactions, and the tension between individual incentives and societal good.
- [2: The Changing Lily Pad](https://www.theboilingfrog.net/2022/01/14/2-the-changing-lily-pad/) - Understanding the conflict between progressivism vs. conservatism, particularly in the context of local communities…and the case that change is both inevitable and desirable.
- [1: Laissez Frog](https://www.theboilingfrog.net/2022/01/03/1-laissez-frog/) - How social psychology requires us to reframe how we view market capitalism, what makes it successful and the government's role in maximizing its potential.
- [3: Makes Me Unhoppy](https://www.theboilingfrog.net/2022/01/25/3-makes-me-unhoppy/) - How understanding externalities is critical for both economics and public policy, but also how the claim of harm is often without merit but used as an argument against change, to protect one’s self-interest, or otherwise for political purposes.
- [4: Lord of the Frogs](https://www.theboilingfrog.net/2022/02/09/4-lord-of-the-frogs/) - A discussion of the role of the local elected representative, the nature of political leadership particularly in a group setting, the traps that electeds fall into, and what we have learned from being local officials.
- [Red, White, & True](https://www.theboilingfrog.net/2022/02/07/red-white-true/) - Mark and I were interviewed last week by Chesney Evert, who is a junior in the journalism program at Carlmont High School in Belmont, California (one of the local high schools in our regional district). She has her own podcast called Red, White, & True, which is focused on navigating the world of polarized, partisan

## Pages

- [Home](https://www.theboilingfrog.net/) - Reflections on the intersection of economics, history, politics, psychology and science
- [Readers, Not Algorithms, Are the Issue](https://www.theboilingfrog.net/readers-not-algorithms-are-the-issue/) - There's been a debate over the last few years about whether or not search algorithms cause readers to consume partisan or unreliable news and so distort their political beliefs and choices. The fear of this effect has led to demands in some quarters to regulate, somehow, online content providers. This article is the first example
- [It Matters Who Does Science](https://www.theboilingfrog.net/it-matters-who-does-science-2/) - This editorial from the June 2, 2023 issue of Science does a great job of explaining how even something as "determining scientific truth" requires a systemic process, a community, in order to work. Which is why creating and maintaining high-functioning communities is so important.
- [Subscribe](https://www.theboilingfrog.net/newsletter/)
- [A New Bill of Rights Would Extend Our Useful Life](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/a-new-bill-of-rights/) - A “More Perfect” Union In the television show The Big Bang Theory, there is a funny exchange between Sheldon Cooper, the genius theoretical physicist, and Stuart Bloom, the owner of the local comic book store. After Sheldon presents to Stuart a hypothesis about a particular comic book character, the conversation goes as follows: Stuart: Ooh,
- [That Horse Racing Con...](https://www.theboilingfrog.net/that-horse-racing-con/) - This is a confidence game Mark refers to in podcast 24, The Toad Not Taken. It highlights some common fallacies in how most people use historical data to make decisions. Don't try this in real life -- we hate to see our listeners get arrested! Imagine we have available to us a very large supply
- [How to Cleverly Gut the 15th Amendment](https://www.theboilingfrog.net/voting-rights/) - How clever originalists are gutting the 15th Amendment and what can be done by those of us committed to giving everyone a voice in the voting booth.
- [The Myth of "Waste, Fraud, and Abuse"](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/the-myth-of-waste-fraud-and-abuse/) - There are many critiques of the public sector by those in the private sector; some have validity, while others ring hollow. A great illustration of the latter is the oft used criticism that governments – including our public schools – are guilty of “waste, fraud, and abuse.” It harks back to a quote allegedly by
- [All Podcasts](https://www.theboilingfrog.net/all-podcasts/) - 30: Gasleaping Ever wonder why the Trump administration keeps repeating debunked claims? Or why it regularly denies objective evidence, and encourages everyone else to do the same? February 13, 2026 No Comments 29: Ribbiting Disparities This podcast explores the notion of income inequality. Although it’s an oft-discussed subject, it’s not always defined well or only
- [Downloading Podcasts](https://www.theboilingfrog.net/downloading-podcasts/) - Some listeners have asked how they can save the podcasts to listen to offline, and perhaps not through a streaming app. It's straightforward to do. But it requires four steps. Enjoy!
- [The Stealth Rating Agency Tax](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/the-stealth-rating-agency-tax/) - There is often much misunderstanding and controversy surrounding the issuance of facility bonds by local school districts, and completely ignored is a real cost added on to taxpayers by rating agencies who either don't understand, or choose to ignore, how they work. As background, if a school district issues local general obligation bonds (which must
- [Nothing is "Away" from the Classroom](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/nothing-is-away-from-the-classroom/) - One of my favorite examples of the "conventional wisdom" in public education is the often stated “truism” that if a school district needs to make budget cuts, it’s best to make cuts “away” from the classroom. The spirit behind the refrain is sound. If we are forced to make cuts to our budget, shouldn’t we
- [The Inherent Corruption of Conservatism](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/the-inherent-corruption-of-conservatism/) - Author's Note: this article was originally written in 2020 The 2019 film Bombshell was an extremely powerful and moving film about a number of women at Fox News who struggled with, and eventually confronted, sexual harassment by CEO Roger Ailes. The power of the film lies not only with the strong performances by the actors but with
- [Resources](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/) - This is a collection of articles, links, "for more information" pieces, etc., which we think you may find of interest. For definitions of terms used on this site and in our podcasts please visit the glossary page. [table id=1 /]
- [The Problem with Naming](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/the-problem-with-naming/) - “What's in a name? That which we call a rose by any other name would smell as sweet” William Shakespeare, Romeo & Juliet Author's Note: This article was originally written and published in EdSource in January 2014. The school district did pass a policy prohibiting naming school facilities after individuals, and the new schools subsequently
- [Hindsight Bias and the Logical Fallacies in the Gun Debate](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/hindsight-bias-and-the-logical-fallacies-in-the-gun-debate/) - “Why wasn’t the shooter stopped by the cops? They got a tip about him!” is a refrain we inevitably see right after the unfortunately way too many mass shootings in this county. It’s perhaps understandable, but it reminds us of the adage that “hindsight is 20/20” and more specifically illustrates what psychologists call hindsight bias,
- [The Omnipresent Prisoner's Dilemma](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/the-omnipresent-prisoners-dilemma/) - Introduction Originally proposed by mathematicians in the mid-20th century, the Prisoner’s Dilemma is an amazingly simple framework that describes an incredibly powerful phenomenon that pervades almost every aspect of human existence. The game goes something like this: Two men are arrested for a crime they allegedly committed together. The police arrest both men simultaneously and bring
- [Lessons from School Board Service](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/lessons-from-school-board-service/) - The following article was originally published in November 2015 as I was concluding my eight years on the San Carlos School Board. The following is a list of lessons that I learned and wanted to communicate to current and future school board members, other elected officials, and members of the public. 1) Avoid the Temptation
- [Blog](https://www.theboilingfrog.net/blog/) - Items of interest, comments on podcasts, basically anything we publish other than the podcasts themselves… Readers, Not Algorithms, Are the Issue Mark Olbert June 10, 2023 No Comments A recent article in Nature reported on the results of the first (so far as I know) research into how search algorithms might encourage/promote partisanship. Turns out
- [Olbert's Laws](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/olberts-laws/) - When I was a teenager I started keeping track of what I called Olbert's Laws. These were more like aphorisms than true laws...but I thought "laws" sounded catchier than "aphorisms" :). I didn't invent all of them...but as you'll see that itself is related to one of the laws. This is the current, occasionally updated
- [Contact](https://www.theboilingfrog.net/contact/) - Contact Contact us by email at ribbit at theboilingfrog . net or use the email form below. Please enable JavaScript in your browser to complete this form.Name *Email *Subject *Message *Send Message
- [Glossary](https://www.theboilingfrog.net/glossary/) - Ad valoremAmerican ExceptionalismAnthropomorphizeArbitrageAverage CostBarnum EffectBlack Swan EventBoiling FrogBubbleCannibalization (in business)CartelCherry PickingCognitive DissonanceComparative AdvantageCompartmentalizationComplexificationConfirmation BiasConsensus BiasConservatismCorporate PersonhoodCorporate ShieldDepreciationDiffusion of ResponsibilityDirect DemocracyDunbar's NumberDunning-Kruger EffectEBITDAElasticityExternalityFalse ChoiceFederalismFlying Spaghetti MonsterFree RiderFrequency IllusionFriction (economic)FUDGallows HumorGambler's FallacyGaslightingGenerally Accepted Accounting PrinciplesGerrymanderingGini CoefficientGreater Fool TheoryGroupthinkHappiness IndexHerd MentalityHindsight BiasJingoismJudicial ActivismKakistocracyLaissez FaireLegal FictionLibertarianismMajoritarian BiasMarginal CostMonopolyMonopsonyMoral HazardNatural MonopolyNIMBYismOpportunity CostOptimistic BiasOriginalismParticipation BiasPerfect InformationPeter PrinciplePlan Continuation BiasPost hoc ergo
- [Not as Laissez as You Think](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/not-as-laissez-as-you-think/) - "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." Winston Churchill Introduction Although core to the economic life of all Americans (and many other citizens around the world), capitalism as a system is often misunderstood or conflated with other “free market” notions
- [About Us](https://www.theboilingfrog.net/about/) - Why is this site called The Boiling Frog? Click here to read why… Who We Are Two older gentlemen who definitely took advantage of their white privilege as unapologetic capitalist pigs, but whose stints as public servants have inspired their reflections of how our country got to where it is today (“the boiling frog”) by
- [The Tautological Externality](https://www.theboilingfrog.net/additional-resources-we-think-you-may-find-of-interest/the-tautological-externality/) - 2008 was a big election year for the U.S. and for California specifically. In addition to the presidential contest between Barack Obama and John McCain as well as many state and local office elections, Californians had to vote on 12 state initiatives that covered issues as diverse as high-speed rail, criminal justice reform, redistricting, and
- [What Is the Boiling Frog?](https://www.theboilingfrog.net/just-what-is-this-boiling-frog-thing/) - The boiling frog is a parable that illustrates an important lesson on how people, events, and a whole society can, by changing slowly over time, transform into something unrecognizable and previously inconceivable. The fable goes like this: if you put a frog directly into boiling water, it will jump right out of the pot…but if
- [Privacy Policy](https://www.theboilingfrog.net/privacy-policy/) - Who we are Our website address is: https://www.theboilingfrog.net. Comments When visitors leave comments on the site we collect the data shown in the comments form, and also the visitor’s IP address and browser user agent string to help spam detection. An anonymized string created from your email address (also called a hash) may be provided
- [Sample Page](https://www.theboilingfrog.net/sample-page/) - This is an example page. It's different from a blog post because it will stay in one place and will show up in your site navigation (in most themes). Most people start with an About page that introduces them to potential site visitors. It might say something like this: Hi there! I'm a bike messenger

## CM Tooltip Glossary

- [Black Swan Event](https://www.theboilingfrog.net/glossary/black-swan-event/) - an extremely rare, unpredictable occurrence that carries a massive, severe impact and is often falsely rationalized as predictable only after it happens
- [Survivorship Bias](https://www.theboilingfrog.net/glossary/survivorship-bias/) - A logical error of focusing only on the winners or survivors of a process while completely ignoring the failures or those who did not make it
- [Gallows Humor](https://www.theboilingfrog.net/glossary/gallows-humor/) - A form of wit that makes light of subject matter generally considered taboo, serious, or terrifying, particularly death, illness, or disaster. It takes its name from the ironic jokes traditionally told by those about to be hanged, acting as a coping mechanism in situations of extreme distress or impending doom
- [Gaslighting](https://www.theboilingfrog.net/glossary/gaslighting/) - a form of psychological manipulation where someone makes a victim question their own reality, memory, or sanity, eroding their self-trust and creating dependence, often seen in abusive relationships, politics, or workplaces, characterized by constant denial, lying, and twisting facts to maintain control, leading to confusion, anxiety, and isolation for the victim.
- [Happiness Index](https://www.theboilingfrog.net/glossary/happiness-index/) - From the World Happiness Report (published by the Wellbeing Research Centre at the University of Oxford), a metric that assesses levels of happiness and well-being, often through self-reported surveys asking about life satisfaction.
- [Gini Coefficient](https://www.theboilingfrog.net/glossary/gini-coefficient/) - A statistical measurement of a countries’ inequality – on a scale of 0-100, where 0 would be a situation where literally everyone had the same income or wealth, and 100 would be a case where one person held all of it for a society
- [Kakistocracy](https://www.theboilingfrog.net/glossary/kakistocracy/) - Government run by the worst, least qualified, and/or most unscrupulous people
- [Protectionism](https://www.theboilingfrog.net/glossary/protectionism/) - A government policy that limits imports to help domestic industries, usually through tariffs, import quotas, product standards, subsidies, or devaluation of its currency
- [Elasticity](https://www.theboilingfrog.net/glossary/elasticity/) - Specifically called Price Elasticity of Demand, the percentage change in the quantity demanded of a good or service divided by the percentage change in the price (i.e., an "elastic" product is one where demand will change significantly based on small price changes)
- [Comparative Advantage](https://www.theboilingfrog.net/glossary/comparative-advantage/) - The idea that a country, person, or business can produce a good or service more efficiently than another, taking into account the opportunity cost of what else that entity could have produced.
- [Risk](https://www.theboilingfrog.net/glossary/risk/) - In a financial context, how likely an outcome different from the expected outcome might occur, positively or negatively (i.e., more risk means a wider bell curve of likely outcomes around an average one)
- [Monopoly](https://www.theboilingfrog.net/glossary/monopoly/) - a structure in which a single supplier produces and sells a given product or service
- [Monopsony](https://www.theboilingfrog.net/glossary/monopsony/) - a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services (this often refers to a single employer who controls the labor market in that industry)
- [Cartel](https://www.theboilingfrog.net/glossary/cartel/) - a group of market participants (usually manufacturers or sellers) who collude with each other -- often around supply and price -- in order to improve their profits and/or dominate a market
- [Cannibalization (in business)](https://www.theboilingfrog.net/glossary/cannibalization-in-business/) - A reduction in sales to an existing product or service when a company offers a new product or service (or a new channel) which effectively competes with that existing product or service, often as the result of a new technology or a change in market dynamics
- [Gambler's Fallacy](https://www.theboilingfrog.net/glossary/gamblers-fallacy/) - also known as the Monte Carlo fallacy, the incorrect belief that, if a particular event occurs more frequently than normal during the past, it is less likely to happen in the future (or vice versa) despite the fact that such events are statistically independent
- [Sunk Cost Fallacy](https://www.theboilingfrog.net/glossary/sunk-cost-fallacy/) - the ignoring of sunk costs in making decisions about the future, illogically having a greater tendency to continue an endeavor once an investment in money, effort, or time has been made
- [Generally Accepted Accounting Principles](https://www.theboilingfrog.net/glossary/generally-accepted-accounting-principles/) - also known as GAAP, the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC) and the default accounting standard used by companies based in the United States
- [Optimistic Bias](https://www.theboilingfrog.net/glossary/optimistic-bias/) - also called optimism bias, a cognitive bias that causes someone to believe that they are less likely to experience a negative event or to believe that an event will turn out better than an independent analysis would suggest
- [EBITDA](https://www.theboilingfrog.net/glossary/ebitda/) - earnings before interest, taxes, depreciation, and amortization, a measure of a company's profitability of the operating business before any consideration of financing/indebtedness, taxes, or depreciation and amortization of capital assets
- [Depreciation](https://www.theboilingfrog.net/glossary/depreciation/) - in financial accounting, the allocation of the original cost of purchased assets over a future period of time when that asset is used
- [Plan Continuation Bias](https://www.theboilingfrog.net/glossary/plan-continuation-bias/) - a subtle cognitive bias that tends to force the continuation of an existing plan or course of action even in the face of changing conditions
- [Sunk Cost](https://www.theboilingfrog.net/glossary/sunk-cost/) - In economics and business decision-making, a cost that has already been incurred and cannot be recovered
- [Dunbar's Number](https://www.theboilingfrog.net/glossary/dunbars-number/) - a suggested cognitive limit to the number of people with whom one can maintain stable social relationships — British anthropologist Robin Dunbar proposed that humans can comfortably maintain 150 stable relationships based on our brain's capacity — others have proposed this number is between 100 and 250
- [Peter Principle](https://www.theboilingfrog.net/glossary/peter-principle/) - a concept in management which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent
- [Ad valorem](https://www.theboilingfrog.net/glossary/ad-valorem/) - (often referring to a tax) in proportion to the estimated value of the goods or transactions concerned
- [Federalism](https://www.theboilingfrog.net/glossary/federalism/) - a mixed mode of government that combines a federal government with regional governments (state, county, city, etc.) in a single political system, dividing the powers among them
- [Regressive Tax](https://www.theboilingfrog.net/glossary/regressive-tax/) - a tax which takes a larger percentage of income from low-income groups than from high-income groups
- [Proportional Tax](https://www.theboilingfrog.net/glossary/proportional-tax/) - a tax which takes the same percentage of income from all income groups (sometimes called a flat tax, if that tax is a flat percentage)
- [Progressive Tax](https://www.theboilingfrog.net/glossary/progressive-tax/) - a tax which takes a larger percentage of income from high-income groups than from low-income groups
- [YIMBY](https://www.theboilingfrog.net/glossary/yimby/) - An acronym for "yes in my back yard," a movement to counter historical pressures of NIMBYism by supporting an increase in the supply of housing (often to counter escalating housing costs) by re-zoning and enacting other policies -- it also may include supporting other public-interest projects
- [Gerrymandering](https://www.theboilingfrog.net/glossary/gerrymandering/) - the manipulation of electoral district boundaries with the intent of creating an undue advantage for a party or a certain sub-group of voters or elected officials (often described as "representatives choosing their voters" rather than "voters choosing their representatives")
- [Average Cost](https://www.theboilingfrog.net/glossary/average-cost/) - the total cost of producing a series of items divided by the number of units produced (i.e., with the fixed costs allocated over each unit)
- [Marginal Cost](https://www.theboilingfrog.net/glossary/marginal-cost/) - the additional cost added by producing one more unit of a product or service
- [Majoritarian Bias](https://www.theboilingfrog.net/glossary/majoritarian-bias/) - A psychological bias where one assumes that the view of the majority (by religion, language, social class, or some other factor) is the view held by all and/or that the majority has a certain degree of primacy over competing viewpoints
- [Textualism](https://www.theboilingfrog.net/glossary/textualism/) - a mode of legal interpretation that focuses on the plain meaning of the text of a legal document
- [Judicial Activism](https://www.theboilingfrog.net/glossary/judicial-activism/) - a judicial philosophy holding that the courts can and should go beyond the applicable law to consider broader societal implications of its decisions, but often just used as complaint by those who just don't agree with a court's decision
- [Libertarianism](https://www.theboilingfrog.net/glossary/libertarianism/) - a political philosophy that upholds liberty as a core value, maximizing autonomy and political freedom while minimizing the state's (often perceived) violation of individual liberties
- [Diffusion of Responsibility](https://www.theboilingfrog.net/glossary/diffusion-of-responsibility/) - a sociopsychological phenomenon whereby a person is less likely to take responsibility for action or inaction when other bystanders or witnesses are present
- [Flying Spaghetti Monster](https://www.theboilingfrog.net/glossary/flying-spaghetti-monster/) - the deity of the Church of the Flying Spaghetti Monster, or Pastafarianism, a social movement that promotes a light-hearted view of religion. It originated in opposition to the teaching of intelligent design in public schools. According to adherents, Pastafarianism (a portmanteau of pasta and Rastafarianism) is a "real, legitimate religion, as much as any other." It has received some limited recognition as such.
- [Legal Fiction](https://www.theboilingfrog.net/glossary/legal-fiction/) - an assertion accepted as true, though probably fictitious, to achieve a particular goal in a legal matter
- [Originalism](https://www.theboilingfrog.net/glossary/originalism/) - a type of judicial interpretation of the US Constitution that aims to follow how it would have been understood or was intended to be understood at the time it was written
- [Anthropomorphize](https://www.theboilingfrog.net/glossary/anthropomorphize/) - to attribute human characteristics or behavior to non-human objects or animals
- [Corporate Shield](https://www.theboilingfrog.net/glossary/corporate-shield/) - also called the corporate veil, the legal framework in which shareholders, officers, and directors of a corporation will not be held personally liable for the actions of the corporation
- [Corporate Personhood](https://www.theboilingfrog.net/glossary/corporate-personhood/) - The legal notion that an entity such as a corporation or a business has at least some of the legal rights and responsibilities enjoyed by natural persons
- [Cherry Picking](https://www.theboilingfrog.net/glossary/cherry-picking/) - In the context of competitive markets, the effort by a company to sell only higher-margin products and/or target select customers, often undermining an existing entity that sells bundled products or sells to a larger subset of customers.
- [Dunning-Kruger Effect](https://www.theboilingfrog.net/glossary/dunning-kruger-effect/) - a cognitive bias whereby people with low ability at a task overestimate their ability
- [American Exceptionalism](https://www.theboilingfrog.net/glossary/american-exceptionalism/) - the notion that the U.S. is inherently different from other nations and both destined and entitled to play a distinct and positive role on the world stage
- [Jingoism](https://www.theboilingfrog.net/glossary/jingoism/) - A form of nationalism -- often an extreme one -- with an excessive bias in judging one's own country as superior to others, and it often manifests itself with an aggressive foreign policy
- [Arbitrage](https://www.theboilingfrog.net/glossary/arbitrage/) - the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalize on the difference, the profit being the difference between the market prices at which the unit is traded
- [Bubble](https://www.theboilingfrog.net/glossary/bubble/) - sometimes referred to as a speculative bubble, financial bubble, or economic bubble, it is a situation in which asset prices are much higher than the underlying fundamentals can reasonably justify (often caused by overly optimistic projections about the future or by some form of herd mentality)
- [Opportunity Cost](https://www.theboilingfrog.net/glossary/opportunity-cost/) - The loss of value or benefit that would be incurred by engaging in an activity, compared to the value or benefit from engaging in an alternative activity
- [Herd Mentality](https://www.theboilingfrog.net/glossary/herd-mentality/) - A phenomenon, also called mob mentality, where people can be influenced by their peers to adopt certain behaviors on a largely emotional, rather than rational, basis (often making different decisions than they would have done individually)
- [Greater Fool Theory](https://www.theboilingfrog.net/glossary/greater-fool-theory/) - The idea that one can sometimes make money through the purchase of overvalued assets if those assets can later be resold at an even higher price (selling it to a "greater fool") - closely related to Herd Mentality
- [Whataboutism](https://www.theboilingfrog.net/glossary/whataboutism/) - a logical fallacy when someone attempts to discredit an opponent's position by charging hypocrisy without directly refuting or disproving the argument or by raising a different issue as a counteraccusation
- [Compartmentalization](https://www.theboilingfrog.net/glossary/compartmentalization/) - a psychological defense mechanism in which thoughts and feelings that seem to conflict are kept separated or isolated from each other in the mind, often defying one's own moral code or in an effort to avoid cognitive dissonance
- [False Choice](https://www.theboilingfrog.net/glossary/fasle-choice/) - also called a false dilemma or false dichotomy, a fallacy based on a premise that erroneously limits or frames what options are available (effectively using a false premise)
- [Post hoc ergo propter hoc](https://www.theboilingfrog.net/glossary/post-hoc-ergo-propter-hoc/) - Latin for “after this, therefore because of this,” it is a fallacy that states: "Since event Y followed event X, event Y must have been caused by event X," often shortened simply to post hoc fallacy
- [FUD](https://www.theboilingfrog.net/glossary/fud/) - (fear, uncertainty, and doubt) a tactic used in sales, marketing, public relations, politics, polling, cults, and otherwise -- generally a strategy to influence perception by disseminating negative and dubious information and appealing to fear
- [Groupthink](https://www.theboilingfrog.net/glossary/groupthink/) - a psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome (reducing critical evaluation of the underlying issue)
- [Boiling Frog](https://www.theboilingfrog.net/glossary/boiling-frog/) - a parable that illustrates an important lesson on how people, events, and a whole society can, by changing slowly over time, transform into something unrecognizable and previously inconceivable
- [Barnum Effect](https://www.theboilingfrog.net/glossary/barnum-effect/) - also called the Forer effect, is a common psychological phenomenon whereby individuals give high accuracy ratings to descriptions of their personality that supposedly are tailored specifically to them, yet which are in fact vague and general enough to apply to a wide range of people
- [Frequency Illusion](https://www.theboilingfrog.net/glossary/frequency-illusion/) - also know as the Baader–Meinhof phenomenon, is a cognitive bias in which, after noticing something for the first time, there is a tendency to notice it more often, leading someone to believe that it has a high frequency of occurrence (a concept or thing you just found out about suddenly seems to crop up everywhere)
- [Self-Fulfilling Prophecy](https://www.theboilingfrog.net/glossary/self-fulfilling-prophecy/) - a prediction, whether founded or unfounded, that is ultimately confirmed because the very act of foretelling it influences behaviors and perceptions in ways that ultimately bring it about
- [Reductionism](https://www.theboilingfrog.net/glossary/reductionism/) - the practice of simplifying a complex idea, issue, condition, or the like, especially to the point of minimizing, obscuring, or distorting it
- [Direct Democracy](https://www.theboilingfrog.net/glossary/direct-democracy/) - a form of democracy in which the electorate decides on policy initiatives without legislative representatives as proxies
- [Representative Democracy](https://www.theboilingfrog.net/glossary/representative-democracy/) - also known as indirect democracy, is a type of democracy where elected persons represent a group of people, in contrast to direct democracy (nearly all modern Western-style democracies function as some type of representative democracy)
- [Consensus Bias](https://www.theboilingfrog.net/glossary/consensus-bias/) - a cognitive bias that causes people to see their own behavioral choices, beliefs, and judgments as relatively common and widespread through the general population
- [Participation Bias](https://www.theboilingfrog.net/glossary/participation-bias/) - a phenomenon in which the results of elections, studies, polls, etc. become non-representative because the participants who choose to respond disproportionately possess certain traits which affect the outcome
- [Selection Bias](https://www.theboilingfrog.net/glossary/selection-bias/) - the bias introduced by the selection of individuals, groups, or data for analysis in such a way that proper randomization is not achieved, thereby failing to ensure that the sample obtained is representative of the population intended to be analyzed
- [Tautology](https://www.theboilingfrog.net/glossary/tautology/) - a formula in logic that is true in every possible interpretation and is often represented by a statement made obvious through redundant language, such as “what will be will be”
- [Friction (economic)](https://www.theboilingfrog.net/glossary/friction/) - the hidden (or not-so hidden) costs, time, or other resources required to execute a rational transaction; these can be relatively minor (e.g., the time it takes to write a check to a vendor and mail it) or it can be significant (e.g., it takes months to find the right job)
- [Standing (legal)](https://www.theboilingfrog.net/glossary/standing-legal/) - a condition that a party seeking legal remedy must show they have sufficient connection to, and harm from, the law or action challenged to support that party's participation in the case
- [Complexification](https://www.theboilingfrog.net/glossary/complexification/) - the act of making something complex over time, usually gradually and slowly such that there aren’t any distinct step functions of complexity
- [Zero Sum Game](https://www.theboilingfrog.net/glossary/zero-sum-game/) - a representation in game theory and economic theory in which one person’s gain is equivalent to another’s loss, so the net change in wealth or benefit is zero (the equivalent of just dividing a pie into pieces while not growing the pie)
- [Starting Point Bias](https://www.theboilingfrog.net/glossary/starting-point-bias/) - a bias in analyzing information by using a particular starting point to look at data (whether it be the initial numbers as part of a range in a survey or a starting date to analyze historical events while ignoring information before that starting point)
- [Progressivism](https://www.theboilingfrog.net/glossary/progressivism/) - a philosophy that embraces constant reform and change, based on the idea that advancements in science, technology, economic development, and social organization are vital to the improvement of the human condition
- [NIMBYism](https://www.theboilingfrog.net/glossary/nimbyism/) - NIMBY is an acronym for the phrase "not in my back yard," a characterization of opposition by residents to proposed developments/changes in their local area, even if often such residents would be supportive of such changes elsewhere; “Temporal NIMBYism” is the same concept, but one of time – individuals being supportive of change, but not
- [Free Rider](https://www.theboilingfrog.net/glossary/free-rider/) - type of market failure that occurs when those who benefit from resources or services of a communal nature do not pay for them or under-pay; this could be a positive externality or use of a public good
- [Hindsight Bias](https://www.theboilingfrog.net/glossary/hindsight-bias/) - the idea that an event was predictable even though logically it would have been difficult to envisage beforehand
- [Conservatism](https://www.theboilingfrog.net/glossary/conservatism/) - a cultural, social, or political philosophy that seeks to promote and preserve the status quo
- [Velocity (of money)](https://www.theboilingfrog.net/glossary/velocity-of-money/) - a measurement of the rate at which money is exchanged in an economy; the frequency at which one unit of currency is used to purchase goods and services within a given time period
- [Structural Unemployment](https://www.theboilingfrog.net/glossary/structural-unemployment/) - a significant and widespread mismatch between the skills of potential workers and those needed in the economy; this often happens when a specific industry is disrupted and the existing workers in that industry are not able to seamlessly transition to work in other industries
- [Rational Decisions](https://www.theboilingfrog.net/glossary/rational-decisions/) - economic decisions (e.g., a purchases, sales, etc.) that reflect self-interest in that costs and benefits are evaluated objectively, the choice made is the best option among alternatives, and risks associated with choices are evaluated correctly
- [Public Good](https://www.theboilingfrog.net/glossary/public-good/) - a needed product or service where the value is so dispersed that it is impossible or cost-prohibitive to measure the value provided to each person and/or extremely difficult to collect payment for such value; a public good tends to be non-rivalrous, meaning its consumption by one individual does not reduce its availability to others (e.g.
- [Prisoner's Dilemma](https://www.theboilingfrog.net/glossary/prisoners-dilemma/) - an example in game theory that shows why two completely rational individuals might not cooperate, even if it appears that it is in their best interests to do so
- [Perfect Information](https://www.theboilingfrog.net/glossary/perfect-information/) - an economic concept that consumers and producers are assumed to have complete knowledge of price, utility, and quality of all products and services
- [Natural Monopoly](https://www.theboilingfrog.net/glossary/natural-monopoly/) - a situation where a market is actually most efficiently served by a single provider; this tends to happen in industries where there are very high capital costs and the economies of scale prevent effective competition
- [Moral Hazard](https://www.theboilingfrog.net/glossary/moral-hazard/) - a lack of incentive to guard against risk where one is protected from its consequences, e.g., by insurance, bankruptcy, other safety nets, etc.
- [Laissez Faire](https://www.theboilingfrog.net/glossary/laissez-faire/) - literally “let do” in French, the concept that private transactions guided by self-interest and free from government intervention produce the most desirable societal outcome (versus, for example, a central authority determining what is best for everyone); also often referred to as the “Invisible Hand”
- [Tautological Externality](https://www.theboilingfrog.net/glossary/tautological-externality/) - a perceived effect on a person or entity not party to a transaction just because that person says there is such an effect (e.g., “it bothers me because it bothers me”)
- [Externality](https://www.theboilingfrog.net/glossary/externality/) - an effect (positive or negative) on an individual or other economic entity not party to a specific economic transaction
- [Confirmation Bias](https://www.theboilingfrog.net/glossary/confirmation-bias/) - the tendency to search for, interpret, favor, and recall information in a way that confirms or supports one's prior beliefs or values
- [Cognitive Dissonance](https://www.theboilingfrog.net/glossary/cognitive-dissonance/) - the state of having inconsistent thoughts, beliefs, or attitudes, especially as it relates to behavioral decisions and attitude change (people tend to instinctively avoid cognitive dissonance by shaping beliefs and actions to keep a consistency of beliefs and actions)

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