Note 132

If you know what you’re doing, your goal should be to maximise return for a given acceptable amount of risk.

If you don’t know what you’re doing, your goal should be to minimise risk for a given acceptable return.

Note 131

Understanding is in essence the understanding of categories, that is, how they fit together or envelop one another.

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What determines the primacy of systems? Is that a meaningful question?

Note 130

When do properties become things? When they become causal agents in systems of relations, and are used as propositional subjects. They are epistemically, not ontologically significant.

Philosophical Investigations Note 6

Subject/object distinctions are not a function of form but of clarity over the parameters of a language game for a certain use.

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Solidification of qualities as things as a means of establishing relationships among qualities via rules of grammar to anchor and direct language games.

Philosophical Investigations Note 5

Normal is established in the context of the strange, and the strange in the normal.

Properties can only be established within a context. What about colours, like blue or red? Yes - these are descriptors established within a colour context - colours only make sense when related to each other.

What about things? As subjects, they extend beyond the frame -they are what the frame is about. As the intelligible object, they are understood by their properties - defined by their context. The method identifies the concept by contextualizing it, as Wittgenstein notes.

But the concept lies beyond the meaning. Only if the concept lies beyond the use can use be made of it.

Note 129

Two kinds of strategy: forward strategy and backward strategy.

Forward strategy is defined as the application of the principles of momentum and improvisation: to assess the present situation and capacities, in order to determine feasible outcomes and the routes to achieve one’s ends, working from and within the current context.

Backward strategy begins from a set of preferred outcomes based on one’s values and preferences. It then defines the means to achieve these ends, in a variety of situational contexts.

At the risk of confusion, we might call the former “short-run” strategy, and the latter “long-run” strategy.

The cultivation of capacity for both and the ability to suit the combination of both ways of thinking to the opportunities and constraints of each situation is called adaptive strategy.

Note 128

Generally, in any social interaction, the most important language game is the one that one has with oneself.

A thought is the death of an idea.

Viewed in this light, what is said are residues of truth that have evolved beyond it, and as a characterisation of the relationships of the past, must be viewed as an act of finality.

Note 127

One might say that excess of saving over investment and falling interest rates tend to indicate demand constraints and excessive inequality, while excess of consumption over investment along with rising interest rates indicate savings supply constraints and insufficient inequality.

Rising rates are due to high costs of risk or overheating and inflation. One might say that these may be caused by inadequate savings, which may be partially attributed to overconsumption. Multiplier effects of consumption increase the asset base of banks and hence credit provision, which may help address the problem.