Occam’s Razor is a classic problem solving principle and mental model. This concept is named after William of Ockham, an English friar, theologian, and philosopher and refined by many great thinkers of out time. So what is it?
When choosing alternate hypothesis, always go with the fewest number of necessary assumptions as it’s easier to prove/disprove the hypothesis. This is similar to following critical path in project management for an outcome.
When so many outstanding variables and assumptions in each of our critical decisions in business, money and finance exists, taking an Occam’s Razor approach to determine our course would make the most sense.
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