Jordan Peterson | Price's Law and How it Relates to Many Things Including Business

Prices Law ~ Jordan Peterson explained how Prices Law (Prices Modal) relates to many things such as key Business decisions and highlights on some "DISMAL" Realities of this concept! Thanks for Watching and please hit that Like button!
Price's model on wikipedia:
en.wikipedia.o...
About Jordan Bernt Peterson:
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Jordan B Peterson is a Canadian clinical psychologist, public intellectual, professor of psychology at the University of Toronto, and a real top-lobster. His areas of study are in abnormal, social and personality psychology, with a particular interest in the psychology of religious and ideological belief, and the assessment and improvement of personality and performance.
Peterson's past work examine several academic fields to describe the structure of systems of beliefs and myths, their role in the regulation of emotion, creation of meaning, and motivation for genocide. More recently Peterson released a series of videos on his KZbin channel in which he criticized political correctness and the Canadian government's Bill C-16. As a result he received significant media coverage, receiving major backlash from the radical-left.
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Video Sources & Refrences:
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• 2017 Personality 19: B...

[@SchoolofPeterson]

JBP Theamed Shirts, Hoodies, Stickers and more! Check out my store here: www.redbubble.com/people/KindredClips/shop

[@hanniffydinn6019]

This is actually the most important lesson in life and business, yet nobody understands it's on play in every aspect of life. When I understood these laws, it literally changed my life and world view.

[@captainspire9094]

I know I should be encouraged, feel motivated, and enlightened from Dr. Peterson, but every time I hear him talking about the Median person, the person in the middle, the person who just skims by and does nothing creative, I can't help but think of myself.

[@SchoolofPeterson]

You do not need to be a creative to be successful. You may be the creative type or you may be more on the conservative side and are more gifted at management for example. But if you are a creative - than Peterson has suggested that it is very important that you are in fact working on something creative - anything - even a bad idea is better than none. From my experience - people in the middle - do not see themselves as those who just skim by. You should be motivated (in a way) by the fact that part of you is uncomfortable with being in the middle. And, you have the right to be mad if you are not where you should or can be. Get to it!

[@captainspire9094]

This is difficult to reply to as there have been many stories of people who have had it a lot worse, and have had great success, while there are those who were given every opportunity in life and wasted it all. I find myself in the dead middle of that predicament. The people that I placed most of my trust and faith in, destroyed that drive to succeed. The one person, who gave me a goal to reach for, died just as I was getting my momentum back. I’m too afraid to give that much effort into a life goal again, but I have strived in the lowest part of my life only to bring myself up from utter chaos to this now stagnate stability. I don’t want the approval of the masses, at the same time would hope for human encouragement without having to beg for it again. It seems I grow, learn, and develop the best when absolutely everything is failing apart, but pull back on the reigns when I reach a level of success. My current predicament is as frustrating to examine as it is to explain.

[@SchoolofPeterson]

It sounds like you have realized that you are primarily motivated externally - by other people and that that can be a super unstable source of motivation. Consider embracing the frustration you have regarding the cycle of reaching a level of success to only fall back or below stagnation - perhaps this frustration could be enough motivation to cut ties with those around you who are contributing to you lack of motivation - even if they are family or friends who are close to you. Bad company can be extremely taxing. Do not belittle the hole you are in - this sounds extremely frustrating - but make sure you use the opportunity that you gave yourself by climbing out of hell!

[@captainspire9094]

Having relatively little contact with people who could both positively and negatively affect me, leads me to the painful conclusion that the only one currently contributing to my lack of motivation, is me. When I start to conjure the motive to do something to break myself out of that rut, the moment, doesn’t strike me and it is placed on the woulda coulda shoulda table for an indeterminate amount of time. Part of me says I’m trying to emotionally or personally recoup the losses I’ve taken, but at the same time may be the excuse I use to not actually do anything extra ordinary. Reading a good book but never finishing it. Starting a garden from rocks and nothing but not taking the best care of it as it bears produce. Making and putting up a useful shelf but not fixing that hanger poll in a guest bedroom closet. I guess if I were to call the words of my father I’m half-assing it.

[@leyk17]

Hey man, facing the same problem here. I didn't want to see myself as average or predictable, I wanted to be unique and exceptional! I've realized that I may be part of the median...for now...but I have the potential to MAKE myself into someone above the median in the future. Instead of looking at a current snapshot, think of time as if it were a spatial dimension. One end, you're an infant. On the other, you're an old man. You are somewhere between these two and the fact that you can recognize your place on it means that you have the ability to alter it.

[@KarlenBell]

Saw the idea of Price's Law on the first chapter of "12 Rules for Life", and I kind of have an idea of what it was talking about. But now looking at the graph and the explanation just made it much better.

[@GutGains]

Your channel has made Peterson's work infinitely more useful, thank you for these edits.

[@ZekeRodriguezshow]

WoW! JP is the fucken man. Every politician in the world should here this lecture. Ultra epic for writing business law.

[@tammelinda7550]

Love Jordan Peterson, we need his commonsense today

[@be_smart3]

Very bright man. No wonder why he is dominating the intellectual arena :)

[@marsma5243]

From your book, 12 Rules for Life "This principle is sometimes known as Price's law, after Derek J. de Solla Price, the researcher who discovered its application in science in 1963. It can be modelled using an approximately L-shaped graph, with number of people on the vertical axis, and productivity or resources on the horizontal."

[@jimparsons6803]

Liked the clip. Dr. Peterson doesn't pull punches, which is why I enjoy his clips. This clip's lesson, if there is one, seems to be that those that have gumption, generally do better and conversely. … even then you could not do as well as you thought you might, as there seems to be a certain amount of randomness in the Universe. All of the above and more seems to be common enough knowledge. --- as in Price's Law or Observation, depending on your point of view. I would guess that Dr. Peterson's lectures do not go over well with the political or religious crowds generally. For me, oddly, this lecture explains why earlier folks and times thought the printing press was a big deal as reading and writing were or are thought to be the true keys to Nirvana, so to speak. The same might be said for computers or the Internet, and how or why hopeful expectations remain, well... only hopeful?

[@bradwillems4070]

Is there a recognized law for the reciprocal of Prices Law -e.g. 10% of the group cause 90% of the problems? Examples I have observed - in the classroom a small number of the students cause most of the discipline problems. Within families there seems to be a small number of the family that have issues like additions can't keep steady jobs, or do not save money and spend more than they earn - even if they earn more the others they need to borrow from. I wonder if that has been studied.

[@stanleyayochok]

Whats the difference between Pareto Distribution and Price's Law?

[@SchoolofPeterson]

Hey Stanley, Price's Law is the same phenomenon seen in the Pareto Distribution - it is also known as the 80/20 rule.

[@hanniffydinn6019]

Stanley ones 10 of 100 and ones 20 of 100. I guess they are the same really in the sense a small number is doing the real work.

[@michaelbrent6099]

the pareto distribution isn't about work done though is it? peterson uses it to describe things like cities and youtube views. Its more about how things accumulate isnt it? including wealth and opportunity.

[@SuperRayW]

I know I was confused for a while because the first time I heard Peterson describe Price's Law in a video he mistakenly referred to it throughout as Pareto Distribution, but he only talked about the square root rule, no mention at all of the 80/20 stuff.

[@jimparsons6803]

I find many of the clips by Dr. Peterson, amusing quite often, and sometimes a bit scary. This clip concerning the 'Price's Law,' is one of the scary sorts --- I had to think about it for a while (I first seen this clip about 2 weeks back and it was the first time that I heard of this observation.). But, I think that what the observation is actually describing is something called 'gumption.' And after the reader looks that word up for themselves, it might seem like a simplification to some. As many might wish to have a complex solution or answer at a guess. Some might wish to have more folks with 'gumption' that can figure stuff out, perhaps with all that figuring out for “free.” … politicians perhaps or maybe portions of the business community? Being a now and then reader of history, I tend to ask myself questions to the effect 'has this sort of thing (in a generic fashion) happened before, and if so how many times did it happen? (again in a generic fashion) In the case of 'gumption,' it has and there was a religion or a series of religions that enforced (after a fashion) or encouraged (also after a fashion) gumption. That case or a series of cases was the BCE Greeks with their Olympic Games (factually there were several similar games --- they rotated, I think that's correct, in a 4 year cycle), with the winner of the first games was a sprint or later in times, other sorts of activities, all winners getting free meals for life. These games started before there was money apparently. These games were associated with the various Greek deities as the BCE Greek deities apparently really wanted their followers to strive (that gumption mentioned above). Take a peek at the Homer poems 'The Iliad' and the 'Odyssey,' to get a flavor of how the interests of the Greek deities were expressed --- those poems were in effect religious texts, not completely unlike the Christian Bible. So the BCE Greeks because they were always striving it seemed, developed or started science, their version of the scientific method (which is a very big deal given a longer term), invented Plane Geometry (there's more than a few would likely disagree with me on that one), Trigonometry (ditto as with for Plane Geometry), and on and on. So that in the more modern sense the BCE Greeks were not about being a charity. Y' getting the drift I'm pretty sure. That was the only organized formal Religion that resulted in all those sorts of intellectual goodies, as far as I know, and this last is also the opinion of PBS in a number of documentaries. There's likely more than one lesson in there. For me that is what the Price's Law is, it's a restatement of the BCE Greek habit of striving. My thanks to Dr. Peterson for this and related clips as they elegantly explain and teach just what is what and why and how. My two semesters in Psychology did not include any of this information even though this Law was announced well before I signed up for those two semesters --- I would guess that his clips are from a graduate course?

[@SuperRayW]

The first time I heard Peterson describe Price's Law in a video he mistakenly referred to it throughout as Pareto Distribution, but he only talked about the square root rule, no mention at all of the 80/20 stuff, so for 2 years now I've been calling it the wrong thing.

[@Toto-95]

dude, show what he's pointing at when he points at the a graph or something...

[@SchoolofPeterson]

Will do in future videos, thanks for the tip!

[@041882]

@Anthony Mugianesi You do realize this came from Jordan Peterson directly and that School of Peterson can't refocus the camera, right?

[@jimparsons6803]

I first heard of this Law 2 or so weeks ago through watching one of Dr. Peterson's clips. Boggle. I thought that the observation must be wrong or my understanding of the lecture was wrong. So I did a quick search of a week or so, and more boggle. Took note of the fact that this is observation was first announced in the early 1960s --- about the time of JFK became President? There was a related clip that showed a computer generated animation that demonstrated how a "game" such as Monopoly works. Or an economy works in general? That was the implication at any rate. What struck me was that as the animation ground on it was a demonstration of a particular sort of mathematical proof, a very old procedure about 2,500 or more yeas old, I think that's correct. The formal label is something like 'Proof by Induction.' Within the context of economics then, the long term perceived difficulty then can be attached to something like the 'Noise Theorem' or entropy of the Universe. That is to say there is no specific cause or specific groups of causes that cause an economy to broke or more broke, the brokeness is how the Universe works. The various 'isms' insisted upon by many past and present religions or governments are really wrong. If there is a help or a fix for entropy, perhaps the BCE Greeks had it better by rewarding (with free meals for life) for winning an Olympic Game. There seemed to be some spread of the idea that if you done well, you should be rewarded. So the Heroes of the Homeric poems. Indeed, those were readers for the early Greek Religion -- and many know in some detail just how that culture ended up when compared to other cultures, either past or present --- sort of enevitable, ain't it? Later religions did not think that, as everything important was granted not earned, one should not be rewarded for their personal efforts. Sort of sounds to me like socialism, don't it to you? What really struck me that JFK was supposed to be classically trained, steeped in History, big time, and on and on, so his Presidency and the "reasoning" behind it required pretty sturdy hip waders. Even now, with the present crop of politicians hip waders might be advisable.

[@wbol6]

So Most Labor Unions?

[@gleroyTullySAEHEYKID]

Scariest when applied to constant growth government. Kakitocracy.

[@BRUCEOMALLAHAMENSIMPSONRHODES]

Jordan A Great Wise Man I know what you say love those words In Part I Am Bruce Amen on A path for HE! With Love for Truth Peace Out my Friend I will hope Love To Jordan for I know got A big Job good luck Brother A Man

[@psychcowboy1]

[Price's Law and How it Relates to Many Things Including Business] Let's check into lobster head and his loon theories. 'The median person has not done anything creative in ever in their life with anything on any dimension. Its really important to know that. [So according to JP the median person and everyone below that has never done a creative thing like play an instrument, paint something, write a poem and it is really useful to know that? What is useful about knowing that? Seems nihilistic pointless and grossly over exaggerated to me.] We need to hammer into your heart that the square root of the number of people do 50% of the work. [This needs to be hammered into my heart? Why? Every fifth grader with five minutes of thought understands that some people are more productive than others, like 4 of the players on a basketball team score most of the points, but of what use is it to anyone to have that obvious point hammered in to your heart in any situation?] As your company grows incompetence grows exponentially and competence grows linearly. [So as you deliver more and more lectures JP we are watching your incompetence grow exponentially? OK, I can agree with that, accurate but pointless revelation.] Sometimes your best employees leave, some people are hyper-productive, some people have hardly anything in their savings account and a few people have a lot, 1% has all the money.. [Wow this is some serious and useful insight, now I can go out and perceive the world, as technically impossible that JP says that is, with the great knowledge that some income, athletic skills, music success etc are held in the hands of a few at the top. Not sure if I knew that before this lecture, let me think... well actually I did, but thank you JP, made sitting on the toilet with my laptop a bit more enjoyable anyway.]

[@erikcampbell5128]

So what your saying you could not refute with logic and moved to toilet sarcasm. $100 you p-hack data and if you ever published anything it cannot be replicated.