This belief that outcomes could have been predicted earlier is an example of a cognitive bias called Hindsight bias.
<h3><u>Explanation:</u></h3>
Hindsight bias is defined as the tendency in people to overestimate their own ability to predict an outcome in the future, that has nearly no chance of being predicted correctly. It is an extensively used term in psychology and fits the description given by question completely.
This is quite common and can be explained better by an example like when an outcome happens and a person says “I Knew It”, thus in this case, creating a tendency in them that they could’ve predicted the outcome which is simply chance and not a prediction at all.
Ripple Effect. Mortgage lenders set interest rates based on their expectations for future inflation and interest rates. The supply of and demand for mortgage-backed securities also influences the rates. 8 Thus, the Federal Reserve's actions have a ripple effect in terms of impacting mortgage rates.
In England, people associate the acceptance of their Bill of Rights with the reign of King John.
When having pride of a certain country, it is called nationalism.
Too much nationalism can cause problems, one of the causes of WW1 was nationalism.
According to Stephen Covey, when you use a win paradigm, parties in potential conflict work together to develop new solutions that make them all winners.
Explanation:
Paradigm is a philosophical model that contains set of concept and patterns, methodology etc. It has instinct of impress anyone's self confidence. When someone use win paradigm parties who are in conflict work they together develop new solutions that make them all winners.
That means it develops self esteem, confidence which lead them towards success. As paradigm contains models, self concept so anyone can put forward his views about certain thing. That's why Stephen Covey emphasized win paradigm.
