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Episode 056: Dr. Daniel Crosby on the behavioral investor, host Rick Ferri

Bogleheads On Investing Podcast

CHAPTER

The Functional Fictions of the State of Georgia

The idea of something that's metaphysical or bigger than is a uniquely human creation. We are wired to believe in things that are literally not true, and we are wired to reason and think in social terms. And so I talk about these functional fictions in the book,. The borders of the state of Georgia or Texas, an economy, fiat currency. All of these things are things that are not real in the strictest sense.

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