Argumentum ad Populum
Fallacy is when a group of individuals deeply believe that, if majority of them will vote for Sun to raise from West to East, It will. So they voted and next day morning they realized how the sun doesn’t give a shit about their stupid votes. Believe me most of time we do the similar nonsense over and over, assuming majority wins.
Statement … 🎙
So you discuss with your father about future and life time investments, then suddenly he start to emphasize about how pension funds can be your rescue plan after retirement. You ask him, “If it’s really reasonable to contribute your money for 25 years to someone you have no clue how he spend your money or how profitable and sustainable is his business?” Your father turn red and reply, “Do you mean ALL OF US who invested in pension funds were fools?” You quick change the topic coz indeed it can be the end of your discussion. Welcome to argumentum ad populum .
The Fallacy …
Here is the point, The fact that every one believe in the Idea doesn’t make it a valid Idea.Argumentum ad Populum
The Alternative …
In contrary the validity of the idea or theory has to deal with it’s ability to deliver what it promise consistently and effective. So, the assumptions that things are right just because everyone believe so is a fallacy.
Back to the statement … 🗣
So, you a blew the fuse by showing your father he can be part of majority who believe the idea which can indeed be invalid. And guess what ! He was pissed off. At one point your father has built the correlation between the popular idea and the validity of such an idea, which is a terrible thing to do especially in this Information Era. Reality is, majority of individuals are holding ideas which are full of trash. Well he is still your parent and he deserve all respects but in one way or another he need to re-think about the way he handle things. The odds are, he can totally ignore you. Don’t take it personal, move on.
Back to business … 💰
You heard an individual claim, Cassava Business is profitable. You get curious and ask, Why? Then she respond: I heard on News, plus John say this, Hassan also say this, My brother also say that so this must be true. Well, that can be a big lie too. As the matter of fact, based on supply and demand perspective the perfect moment to not touch the business is when everybody say it’s PROFITABLE. Coz it’s just about to FLIP. Regardless, you can still jump in, you can be lucky enough to pull out something but reality has always implies otherwise.
So, when we conduct or about to do business it’s not a good idea to jump in with the reason that everyone is doing so. The reason to take certain direction in business has to base on how effective the process is in term of business itself, not the crowd or Instagram says. This doesn’t mean looking and learning from other people is a bad thing to do but COPYING AND PASTING Something you heard it work without knowing its basis can blew all your money instantly. But yet you can still choose to copy and paste, retirement plans, investment plans, life style, politics, etc. just because everyone believe they work, well time will tell.