December 04, 2021
“When Latin and Economics collide” is what I used to think to myself as my economics teacher used to follow up 90% of the “macro economic” theory he was teaching us with the Latin phrase “Ceteris Paribus.”
If there is this much “ceteris paribus” required for macro economics god help us when we move to micro economics I remember thinking to myself.
The translation? “All other things remaining equal.”
The application? This theory only works if all other things remain equal…..
“But sir all other things don’t remain equal do they?”
“No Marcus but let’s presume they do for the purpose of achieving your A-Levels.”
And so over 20 years later of course the Latin words still exist, the economic models still exist but somehow nothing remains equal. We have so many moving parts and for want of a better phrase we are always comparing apples with oranges.
We remain impatient, if something doesn’t work after a week we look for another solution, rather than knuckling down and realizing that unlike “apps” human performance is not something that can be satisfied with a “swipe right.”
Be patient, be addicted to figuring out what makes you look, feel and perform the best and be aware that “ceteris paribus” can be achieved when it comes to human performance if you want to achieve it. If you do then you start to unlock your special gears!