Bernoulli's real contribution was to coin a word. The word … - William Poundstone

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Bernoulli's real contribution was to coin a word. The word has been translated into English as "utility". It describes this subjective value people place on money.

William Poundstone

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About William Poundstone

William Poundstone is an American author, columnist, and skeptic. He has written a number of books including the Big Secrets series and a biography of Carl Sagan. He is a cousin of comedian Paula Poundstone.

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John Kenneth Galbraith Paul Samuelson Nassim Nicholas Taleb John Maynard Keynes Benoit Mandelbrot

Additional quotes by William Poundstone

"Average" isn't so hot at the race track given those steep track takes. "Average" is pretty decent for stocks, something like 6 percent above the inflation rate. For a buy-and -hold investor, commissions and taxes are small.

There were many at Bell Labs and MIT who compared Shannon's insight to Einstein's. Others found that comparison unfair - unfair to Shannon.

Paradox is thus a much deeper and universal concept than the ancients would have dreamed. Rather than an oddity, it is a mainstay of the philosophy of science.

Bernoulli's real contribution was to coin a word. The word has been translated into English as "utility". It describes this subjective value people p… - William Poundstone

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