Think Like An Economist S E5: Core Principle 4 - The Interdependence Principle - No Decision is an Island
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Aug 18, 2020 AI Snips
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Interdependence Principle
- Everything is connected, impacting decision-making.
- This interdependence affects choices and outcomes.
Coffee Shop Example
- A coffee shop owner's choices, like extending hours or offering classes, are interconnected.
- External factors, like museum hours and competition, also play a role.
Managing Interdependence
- The interdependence principle helps manage overwhelming connections by providing structure.
- It breaks down interdependencies into four manageable categories.