Frank Kern’s Model Of The Economy

A key step when interacting with anyone is figuring out their Model Of The World.

This video will show you a great example of this. In this video, Frank Kern shares his model of the economy. My commentary follows.

Did you notice how simply he views the economy?

Take a quick look at the Wikipedia page about "economy" and notice how it differs from Frank's description.

Your average economist would have a heart attack listening to Frank - but then again, most economists aren't multi-millionaires.

There is no right or wrong

Wikipedia offers you a descriptive model. Frank offers you an operational model.

Generally speaking, you'll notice an interesting pattern between academic models and "real-world" models.

Academic models offer great descriptions of what happens in the real world, but aren't that useful to those who want to act in the real world. "Real-world" models, on the other hand, actually enable you to effectively navigate what's happening and act upon it.

You can't say that one is "right" and the other is "wrong." They're simply different descriptions of the a phenomenon.

Critical distinction: the purpose of a model isn't to be true or accurate. Only useful.

The model Frank uses enables him to make millions. It doesn't matter whether his model is accurate or inaccurate according to economists or anybody else. What really matters is how the model serves him - and perhaps you.

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