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Thursday, November 20, 2008

Stereotypes

Sometimes stereotypes are a historical ideal, the safest assumption, or the most likely value of some quality.

Other times, they refer not to individuals but to the behavior of the group as a whole. It doesn't matter if only 20% of the Huns are bloodthirsty warriors; a horde of them is dangerous.

As Von Mises said, selling lottery tickets is not gambling.

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