Re-Viewing The Economy, Pt. 2: Challenging Conventional Wisdom
The last post on "Re-Viewing The Economy" drew a really large response, some posted here, some by email. One person was even concerned that I was suggesting denial – actually, "mass psychosis" was his term.
There's a huge difference between denying reality and letting a situation over which you have little control incapacitate you. The value of reframing our experience is that doing so supports us in maintaining more resourceful states. This supports a more robust response to our environment, whatever it may be, rather than weaker ones of denial or victimhood.
Another set of NLP tools that are very useful here are the Meta Model language tools. Using just a few of these can strip away things we believe that mislead us. Challenging conventional wisdom: what everyone knows that ain't necessarily so. Here are just three examples from what's becoming "received wisdom" about the current mess at the financial institutions.
"We have to invest more in the banks that are too big to fail."
Have to? According to whom – the same people who created the mess?
Too big to fail – So if we reduced the size of the banks we wouldn't have this problem?
"You have to be invested."
Have to? Again, according to whom?
Invested In what? Cash is an investment. My neighbor the caterer just bought a like new 18 month old $26,000 delivery van for $12,000. He had the cash. That's a pretty nice return on his investment.
Head of AIG's derivatives unit: "I can't imagine any of these (derivatives) ever costing us even one dollar."
Who could imagine it? What would it look like if you did imagine it? What stops you from imagining it?
Questioning like this makes obvious that his statement was not a description of some physical law or reality. It was a statement of the limitation of his imagining. This awareness might have saved AIG a buck or two.
What kind of statements, beliefs, conventional wisdom like this have you let slip by unquestioned in your life?
What's your favorite example of conventional wisdom about the economy that ain't necessarily so – and how would you challenge the assertion(s) in it? Chip in with your comments!
The Meta Model or precision language model is the primary language model in NLP. We cover this vital aspect of NLP comprehensively in our Practitioner programs, both the Summer Immersion Training and the Distance Learning versions.
For your enjoyment, I've posted some of the other forms of what are called Meta-Model challenges Here. Caution: overuse in personal conversations can lead to a loss of rapport!
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Comments on Re-Viewing The Economy, Pt. 2: Challenging Conventional Wisdom
Probably the most damaging statement that we continually let slip by is the idea that we live in a "Free country". Of course, the term "free country" is an oxymoron. If it's a country, then that means that there is a government, which means that we are not free.
TD,
You scored a 'TD' with your post with regard to Reframing. I 'HAVE-TA' invest in Big Banks… I 'HAVE-TA' lose weight. You 'HAVE-TA' believe me…etc…etc.
Via your NLP blogs and newsletters, I'm learning that words have More than Power. Words Are Power! Regardless, of my political affiliation, it's possible that the President, Cabinet, Legislators, and Media Talking Heads are Fully-Aware of the NLP word-framing.
Not suggesting conspiracy, yet Maybe they are using these same said NLP techniques upon the Masses…Ya Think? –eResumes4Vips
Tom,
I have 'SEEDED' this blog-post/article on NEWSVINE. I invite your readers to explore the site @… http://eresumes4vips.newsvine.com/_news/2009/03/20/2571532-re-viewing-the-economy-challenging-conventional-wisdom
Thanks again for your insight…– eResumes4Vips
I love Nominalisations 'CRISIS' 'recession' 'ECONOMY' 'election' 'SECURITY' the list is endless and unfortunately people today are the net value of the nominalisations rammed down their throats. Isn't influence unethical?
From Reuters "The State-sponsored Shadow Banking System":
"[In Europe]When that dispensation fell apart, central banks stepped in as 'emergency' sources of funding, with the argument being that the banking system needed liquidity to get it through an unforeseeable storm. "
How was what a storm for which banks? Those banks needed how much liquidity from whom? For whom was those bank's storm unforseeable?
"That storm is now about 20 months long and what were once emergency measures are now, more or less, the business model for banking."
Right, the author's thinking what I'm thinking…,
"Need I mention that there is a fair amount of moral hazard here. Banks have every incentive to make as many loans as ever they can, take on as much risk within the framework as can be managed and park as much as possible with their central bank.
The risk may bring with it the money they need to earn out of their problems and if things come apart, well then, the authorities have all the more reason to keep them alive if they are looking at an ugly loss if they fail.
Who says the days of big leveraged bets are over."
I read this, and I think, "Well, economic growth is important", and then I think "Yeah, but for whom?"