Steve Eisman on the 'Paradigm Shift' Happening in Markets Right Now

In 'The Structure of Scientific Revolutions', Thomas S. Kuhn argues that scientific progress does not occur through a gradual accumulation of facts, but rather through periodic revolutions that disrupt existing paradigms. Kuhn introduces the concept of 'normal science' and 'revolutionary science', where normal science involves puzzle-solving within an established paradigm, and revolutionary science involves a paradigm shift that fundamentally changes the way scientists view the world. He explains that these revolutions are driven by the accumulation of anomalies that cannot be explained by the current paradigm, leading to a crisis and eventually a new paradigm that offers a different perspective and new ways of conducting research[1][3][5].