Apr 27, 2017

Believability Weighting

"When you're faced with a choice, you have one of three choices that you can have. You can have those with power decide. You can have one man, one vote. Or you can have believability-weighted decision-making. I'm scared of one man, one vote because it suggests that everybody has an equal ability at making decisions, and I think that's dangerous.

"I'm also scared of people with power making the decision. How do you know that that's meritocratic? How do you self-correct that?

"I would like it to be that everybody knows that person's knowledge on the subject, and we can draw upon those differences and actually have the more knowledgeable people have more weight in the decision making."

 - Ray Dalio in an interview with Henry Blodget for Business Insider, 1/7/2017