To: Mike Buckley who wrote (2435 ) 3/20/2000 5:16:00 PM From: Apollo Read Replies (1) | Respond to of 6516
I was disappointed in Millionaire Mind too, mostly because there was no attempt to determine any cause-and-effect relationships. Just because certain profiles of people have certain attitudes in common doesn't mean having those attitudes will help attain their profile. I found the entire book very meaningless. Demonstrating "cause & effect" is extremely difficult to do. Scientifically speaking, the standard approach is to formulate a hypothesis with Koch's postulates in mind, then piece together an experimental design which incorporates a Prospective Randomized Placebo Controlled Trial. In other words, since in The Millionaire Mind, "hard work" was just about the number 1 character trait that most multi-millionaires attributed for their success, one would select a large sample size of experimental subjects, randomize them to 2 groups of exactly equal characteristics, with the exception that one group is composed of subjects with quantifiably greater "hard work" ethic as compared to the control group. Then simply measure the results in accumulated wealth 20 years later. In this way, one can then test the hypothesis that "hard work" leads to greater financial wealth, statistically speaking. My point, of course, is that demonstrating "cause and effect" from a simple survey is impossible. Further, it is impossible to control for all possible variables that could lower the signal-to-noise ratio of the study, in addition to the variable of "hard work". To emulate my favorite nitpicking wizard.....Ahem......"not to question your intellectual talents, but I would be remiss if I didn't point out the obvious fallacy in your argument. If you expected 'cause and effect' from Dr. Stanley's Survey, the only problem here is with your excessive expectations." Ahem, Ahem. Apollo <vbgggggggggg>