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- W29892726 abstract "Technology may produce unanticipated and perhaps unpleasant consequences, Mr. McCluskey warns. He cites McCluskey's Corollary to Gresham's Law to support his case. SIR THOMAS Gresham, an Englishman who died in 1579, gave his name to the economic postulate that bad money drives out good. According to the New Columbia Encyclopedia, this principle: means that, depreciated, mutilated, or debased coinage (or currency) is in concurrent circulation with money of high value in terms of precious metals, the good money automatically disappears. While I would argue that the good money does not disappear, in the sense of ceasing to exist, but rather is displaced, in that it is redistributed into the of a smaller number of people, the operation of Gresham's Law seems clear. For example, in 1964, when the Treasury Department introduced layered coins to replace silver coins, the number of silver dimes, quarters, and half dollars in wide circulation rapidly diminished as people already in of these coins decided to hold on to them. But this article is not about economics or numismatics. Rather, it is about the way that the principle underlying Gresham's Law operates on our thought processes. I want to begin by stating what some may consider obvious: namely, that there is a hierarchy of thought processes involved in solving problems. The term thought process as used here refers to the management and transmission of knowledge; knowledge is the meaningful organization of information. There is more thought process involved in giving answers to some questions than there is in giving answers to others. It requires a less complex thought process to answer the question How many capitals does South Africa have? than to answer the question What are the names of South Africa's capitals? It requires an even more complex thought process to explain why South Africa has three capitals. Once this point about different degrees of complexity is acknowledged, it seems reasonable to be able to discuss versus orders of thought processes and to define these orders in terms of how much knowledge management is associated with them. For the purposes of this discussion, the higher the order of thought process, the more knowledge management is involved. With this definition in mind, I would like to introduce McCluskey's Corollary to Gresham's Law: Lower-order thought processes drive higher-order thought processes out of circulation. In its expanded form this corollary would state that, when higher-order thought processes and lower-order thought processes are concurrently in circulation, lower orders will displace higher orders into the possession of a smaller number of people. This phenomenon has already been tacitly observed by others. John Allan Paulos alludes to it in his book Innumeracy when he talks about the gap between scientists' perception of various risks and the popular perception of these risks.[1] In effect, he is stating that the higher-order thinking with regard to risk has been displaced into the relatively small community of scientists. Higher-order thought processes are no longer common in the larger population, which, because of its innumeracy in this case, operates on a lower order of thought processing. Innumeracy is the mathematical equivalent of illiteracy; according to Paulos, people who can't deal with numbers are innumerate.[2] In this same vein, Sven in his Harvard Magazine article titled What, Me Read? bemoans the difficulty of teaching writing to students who do not read for pleasure. Almost none of my students read independently, writes.I know because I ask them.[3] Now, both reading and writing are high-order thought processes, but Birkerts students appear to employ neither. This revelation becomes particularly bothersome when one learns that is preceptor of expository writing at Harvard, a place where one would expect to find a select kind of student. …" @default.
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- W29892726 title "Gresham's Law, Technology, and Education" @default.
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