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  When I think about what it means to me  to think like a lawyer and How I hope my clients view me.  These aren't the first things  that come to mind.  I mean, think about it. If you're asking a friend,  "What do you think of the lawyer  who handled your divorce proceeding  last year?" They're not gonna say,  "Oh, they were so great  at IRAC (Issue Rules Analysis Conclusion). I really love that." The American Bar Association's Canons of Professional Ethics.  This is basically organization wrote a draft of ethics rules  that they suggested that other states and other courts  kind of adapt and make their own  kind of a sample.  And under the Canon 15, which is how far a lawyer may go in supporting a client's cause,  "The lawyer owes entire devotion to the interest of the client." In the maintenance and defense of his rights  and the exertion of his utmost learning and ability  to the end that nothing...

  Now such a topic (gravitation) has a tendency to become  too philosophical, because it becomes so general that a person talks in such generalities that everybody can  understand him.  And it's considered to be some deep philosophy if you however I would like to be very  rather more special and I would like to be understood in an honest way rather than in a vague way to some extent and  so if you don't mind I'm going to try to give instead of only the generalities  in this first lecture. An example of physical law so that you have at least one example of the things about which  I'm speaking generally in this way uh I can use this example again and again to  give an instance to make a reality out of something which otherwise be too abstract now I've chosen for my special  example of physical law to tell you about the theory of gravitation or the phenomena of  gravity why I chose gravity I don't know I had whatever I chose you would ...

  The next Marketing activity is to identify a concept. And once we identify and develop a concept then we're gonna determine a price that the customer is willing to pay. So far we have three activities  identify an unmet need  develop a concept  determine a price that the customer is willing to pay. number four is to gain distribution  and five is to build awareness  And importantly what we want to do is get distribution first, before we start to advertise. We should have the product available before we start to advertise.  Because what we want to do is Not spend  a lot of money on advertising.  And then have the customer go into the store  and then find out that the product is not available.  In some Industries it's common to create some hype where the product is not available and that's intentional to create this image of scarcity. And sometimes that makes a product more desirable. But we have to determine whether or not the cate...

It’s odd but in the infrequent occasions when I've been called upon in a formal place to play the bongo drums. The introducer never seems to find it necessary to mention that I also do theoretical physics. I believe that's probably that we respect the Arts more than the Sciences.  The artist of the Renaissance said that man's main concern should be for man.  And yet there are some other things of interest in the world even the artists appreciate sunsets and the ocean waves and the march of the Stars across the heavens. And there is some reason then to talk of other things sometimes.  As we look into these things we get an aesthetic pleasure from him directly on observation.  But there's also a rhythm and a pattern between the phenomena of nature which isn't apparent  to the eye but only to the eye of uh analysis and it's these rhythms and  patterns which we call physical laws. What I want to talk about in this se...

  All of this choice has two negative effects on people. One effect, paradoxically, is that it produces paralysis rather than liberation. With so many options to choose from, people find it very difficult to choose at all. I'll give you one very dramatic example of this, a study that was done of investments in voluntary retirement plans. A colleague of mine got access to investment records from Vanguard, the gigantic mutual fund company, of about a million employees and about 2,000 different workplaces. What she found is that for every 10 mutual funds the employer offered, rate of participation went down two percent. You offer 50 funds -- 10 percent fewer employees participate than if you only offer five. Why? Because with 50 funds to choose from, it's so damn hard to decide which fund to choose, that you'll just put it off till tomorrow, and then tomorrow and then tomorrow and tomorrow, and, of course, tomorrow never comes. Understand that not only does this mean that peop...

  What else? Anything else come to mind with drunkards?   A drunker is also somebody that makes rash or extreme decisions without a lot of For Thought .  Good Okay so drunkards are non-rational. And you were gonna say something?  Some of the important scenes happen under the influence of alchohol. Good instead of driving Under the Influence,  we have Russian Under the Influence (RUI) Okay there are lots of RUI scenes  Even people you wouldn't expect so razumikhin who's his friend gets a little tipsy every now and then, he never out of control but he gets a little tipsy. But marmalad is the guy. And what Dostoevsky was originally gonna write about was a novel of  poverty  lower class life in Petersburg  drunkenness  unemployment  an inability to keep the family going  It's marmeladov, he loses his job every time he gets a new job he loses his job he steals from his wife spends the money on drink over and over and over ...

  This is 1401, microeconomics. I'm Professor John Gruber. I think personally what makes economics most exciting is you can use it to think intelligently about the problems that policymakers face every day as they try to decide how to make the economy work the best for its citizens.  In fact, I teach a whole course about this called 1441. But I'm gonna bring some of those insights into this class and use policy-based examples and things like that to try to motivate and organize our thinking about economics. Lastly, three points about my teaching style. First of all, I don't write everything on the board. For the freshmen here, we're not in high school anymore. You need to pay attention and listen to what I say, not just what I write. So it's important to remember that. The second point is, as you can tell, I talk really fast and my handwriting is really bad. So please don't be afraid to ask "what the hell" I just said or wrote. If you don't know, c...