Ceteris Paribus Vs Realism

As humans, we often make the statement 'all things being equal' to precede our expectation at a later date.

Operationally, in economics, the principle intentionally ignores both known and unknown factors that may influence the relationship between price and quantity demanded and thus to assume ceteris paribus is to assume away any interference with a stated position.

To put this in proper perspective, we assume and intentionally ignore factors that may affect the relationship between our efforts and the expected results. We want these factors to be constant.

But the truth of the matter is, in reality, things are never equal, things are never on a constant. The way to the top is never straight.

Most of us are oftentimes too hopeful of a convenient period to shine, a period when everything will work in your favour.

Lets be factual, it does not always work that way. At several points in our lives we make plans and then end them with 'all things being equal'. For example 'Five years from now I will own my own business, all things being equal'. So what if things are not equal?

Situating this to an understandable standpoint, one potent way to really do well in life is to accept these truths to be self evident - That everything will not be constant in our favour always; That there are times when we have to fight our way through; That our success would not be dependent on circumstances.

A convenient way to start is to develop the mentality that whether or not there are constants or variables, a strong drive for goals will be maintained, success will be the end result.

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I have an economics teacher who loves this phrase so much. Good times.

Thank you for this deep thought. Not dependent on circumstances, I'll keep my head high and fix my eyes on the prize.

I love this post... Funny in a way but true... Things in real perspective are never equal.

A convenient way to start is to develop the mentality that whether or not there are constants or variables, a strong drive for goals will be maintained, success will be the end result.

Thanks for driving this home.

so what if all things are not equal?

That's the question we fail to ask ourselves most times.
Well it is necessary for us to make plans and work towards it without waiting for all things to be equal.
Thanks for this

Hey great, Post. However, I do not think that you can compare the economic methodical expression of ceteris paribus with real life. Economists state ceteris paribus because they know the real world is too complex to be modelled. A model exists because we want to simplify real world conditions. When you write "We want these factors to be constant." it is correct but for other reasons than being close to real life. I do believe, as you say, that nothing will be constant in our lives except of physics.

Yes, this is true, its never a lie. Thanks so much

More to say our fingers aint equal.. so all things cant be equal..

nice post bro.

keep it up

this is enlightening

keep doing good

you are great.