Second-Order Problem

Warren Buffett used a very apt metaphor once to describe how the second-order problem is best described by a crowd at a parade: Once a few people decide to stand on their tip-toes, everyone has to stand on their tip-toes. No one can see any better, but they’re
all worse off.

Related: Second Order Thinking

 

*This is an excerpt from our book, The Great Mental Models: General Thinking Concepts. Learn more about the book and how to get it here.